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Colombian Economy Key Facts

Energy

ENERGY

  • Colombia is a referent in energy performance, according to the Energy Architecture Performance Index 2017. The country ranks first in Latin America and eighth in the world, due to the use of market forces (reflected in the low levels of distortion of prices) and in the diversity of its energy matrix, guaranteeing security of supply given the low level of resource endowment throughout the continent. - WEF, 2018

  • Colombia has high potential for generating energy from non-conventional sources thanks to the availability of renewable and alternative energy resources, such as: Sun, wind, biomass, ocean energy and geothermal energy.

  • Colombia needs to increase the current installed capacity to meet the electricity demand forecasted by 2030. The World Bank forecasts that electricity demand in the region will double by 2030, reaching 2,500 TWh by the end of this period. This growth implies the need for an additional increase of 239 GW, approaching 330GW of current installed capacity.

  • Colombia has a regulatory scheme in place to ensure reliable long-term power supply. This scheme guarantees that generation resources can satisfy demand during energy shortages at efficient prices, which makes it a leader in this type of initiatives in the region.

  • The installed capacity of power generation in 2017 was 16,779 MW, of which 65.2% was generated with water resources (10,943 MW), 28.2% with thermal resources (4,729 MW) and the remaining 6.6% with smaller cogeneration and self-generation plants - XM 2018.

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Colombia is a referent in energy performance, according to the Energy Architecture Performance Index 2017. The country ranks first in Latin America and eighth in the world, due to the use of market forces (reflected in the low levels of distortion of prices) and in the diversity of its energy matrix, guaranteeing security of supply given the low level of resource endowment throughout the continent. - WEF, 2018

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