July 13, 2021 Read More →

Oil- and coal-rich Colombia passes energy transition law

Argus Media ($):

Colombia has enacted an energy transition law to promote investment in hydrogen, renewable energy and sustainable transport.

The law, signed by President Ivan Duque yesterday, recognizes green and blue hydrogen as renewable energy eligible for reduced income tax, VAT and tariff exemptions and accelerated depreciation. The new legislation also provides a legal framework for other energy sources such as geothermal plants, as well as storage, carbon capture and energy efficiency.

Colombia was a latecomer to renewable energy compared with other Latin American countries such as Brazil, Uruguay and Chile, in part because of its heavily reliance on hydroelectricity rather than thermoelectric plants. But Bogota is slowly starting to close the gap with new projects, such as the 9.8MW El Carmelo solar park just inaugurated by Colombian generator Celsia. About half of the energy from the new plant will supply Cargill’s local poultry operations.

[Patricia Garip]

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