Renovatio inks new PPA in LatAm’s first private renewables auction

Published: Thursday, May 20, 2021 by Bnamericas

Colombian energy trader and supplier Grupo Renovatio has secured a 15-year power purchase agreement (PPA) with German developer ABO Wind as part of the country’s first private auction for electricity from renewable sources. 

Around 43GWh per year will be delivered from a 19.9MW solar project being developed by ABO Wind in the Andean country, Renovatio said in a statement. 

The supply agreement is due to begin in the second quarter of 2023. 

“[This] is another step forward to promote the energy transition in Colombia, and its construction has the potential to contribute towards post COVID-19 reactivation of the local labor market,” ABO Wind’s Colombia manager Christian Llull said.

He added that ABO Wind currently has around 500MW of solar projects under development in Colombia. 

The agreement is the second PPA secured in the auction, which is the first of its type in Latin America. 

Last month, Renovatio signed a contract with Amsterdam-based MPC Energy Solutions for 23GWh annually over 12 years from the latter’s 9.5MW Los Girasoles solar park. 

“We are very satisfied with this second milestone of our auction that allows us to continue advancing in our vision of being the first 100% renewable energy supplier in Colombia,” Renovatio general manager Francisco Sanclemente said. 

Renovatio launched the auction last November, offering to purchase up to 20GWh a month via flexible contracts ranging from five to 25 years.