[Solar: Colombia awards 1.55GW of solar capacity in OEF auction]

Published: May 28, 2026 09:13

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Colombia’s system operator XM has completed its latest Firm Energy Obligations auction, awarding 4.07GW of new net effective capacity for the period from Dec. 1, 2029 to Nov. 30, 2030. Solar accounted for 1.55GW, alongside 246MW of wind and 2.28GW of thermal capacity. A total of 77 out of 85 participating plants secured allocations, including 29 solar projects. Although solar represented nearly 38% of newly awarded capacity, it accounted for only 7.7% of total firm energy allocated, reflecting Colombia’s reliability charge mechanism, which favors technologies with higher dispatch firmness. SMM believes solar is gaining a stronger role in Colombia’s capacity market, but storage, hybridization and improved dispatchability will be key to strengthening project revenue stability.

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