Colombia to receive US$700 million in investment for solar energy projects

On March 31, the Minister of Mines and Energy, Diego Mesa, concluded his participation in the Berlin Energy Transition Dialogue 2022 (BETD), the most important energy event in Europe.

During the event, Minister Mesa managed to guarantee the investment of more than US$700 million that BayWa r.e will make in solar energy projects in Colombia.

“BayWa r.e is a company that we had already had contact with seven months ago and today they confirmed that they already have a list of solar projects of about 600 MW, more than US$700 million to invest in the country in the coming years and they will also open an office in the coming months in Colombia,” said Minister Mesa.

The official also met with Joachim Goldbeck, the president of the German company Goldbeck Solar, which is interested in coming to Colombia in the future with green hydrogen projects.

It should be recalled that in September last year the Government presented the zero and low emissions hydrogen roadmap and only 6 months later launched the first pilot projects for green hydrogen in the country carried out by Ecopetrol and Promigas.

As at CERAweek 2022 and the IEA Ministerial Meeting, international leaders participating in BETD 2022 highlighted Colombia's role in energy transition and security and acknowledge that the country has become one of the world's main attractions for the development of energy projects renewables.

Such was the case of Patricia Espinosa, executive secretary of the United Nations Climate Agency, who recognized Colombia as a benchmark and an example for carrying out a gradual and responsible Energy Transition process.

Minister Mesa also had lunch with David Turk, US Undersecretary of Energy, who discussed issues such as security and energy transition, as well as opportunities in the logistics chain for Colombia to supply the American market.

“This was a very productive visit and the German government was also interested in continuing to work hand in hand with Colombia on energy transition and security,” concluded Minister Mesa.

One of the main themes of BETD 2022 will be zero and low emission hydrogen as an energy essential for the decarbonization of the economy, which is why Minister Mesa participated in the panel entitled “Hydrogen Diplomacy: Restoring Global Energy Relations?”

“In September last year, we presented the zero and low emission hydrogen roadmap and just 6 months later we put into operation the first green hydrogen pilot projects in the country carried out by Ecopetrol and Promigas. The world continues to recognize Colombia's rigorous and efficient work as leader of the Energy Transition,” said Mines and Energy Minister Diego Mesa.

At the event, the minister also met with important actors of the new German government, as well as heads of other delegations and executives of energy companies, including German Secretary of State for Economy and Climate Patrick Graichen; Secretary of State for Climate for Europe Anna Lührmann; directors H2Global executives, Kristen Westphal and Markus Exenberger; US Undersecretary of Energy David M. Turk, among others.

According to the hydrogen roadmap, Colombia can attract investments of up to US$5.5 billion by 2030. In addition, one of the objectives set out in the document is that the country can develop between 1 and 3 GW of electrolysis for the production of green hydrogen during this decade.

Recently, the Ministry of Mines and Energy, together with the Ministry of Transport, signed a memorandum of understanding with the Port of Rotterdam to create a low-carbon hydrogen export corridor between Colombia and the Kingdom of the Netherlands. The agreement will allow Colombia to advance the study of hydrogen generation, as well as learn from the port's experiences on hydrogen transport logistics in order to commercialize it.

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