Colombia's National Mining and Energy Planning Unit (UPME) has announced the results of its latest auction to procure renewable energy. It has assigned a renewable energy capacity of 7.493 MW through the procurement exercise.

The total includes 5.774 MW spread across 147 solar projects. The UPME did not reveal any additional details about the projects or the final auction prices.

Projects up to 5 MW in size were able to participate in the procurement exercise. Selected developers will be granted 15-year power purchase agreements.

In the country’s first renewable energy auction, which was finalized in October 2019, the UPME allocated 2.2 GW of solar and wind capacity. The final average price was COP 95/kWh ($0.020), while the highest bid only reached COP 110.