Colombia’s rich wind and solar energy potential is estimated at 30 GW and 32 GW, respectively, according to SER Colombia, which is more than Colombia’s current installed capacity of 18.8 GW. Of particular interest is La Guajira region, with world-class wind resources (average wind speeds of 9.8 m/s) and 18 GW of Colombia’s wind power potential. However, this potential has remained to a large extent untapped: the country’s operating installed capacity for solar in 2022 was 290 MW and for wind 18.4 MW representing 1.5% and 0.1% of the capacity mix, respectively.
- Colombia has world-class wind and solar energy potential and recent regulatory updates have enacted a robust framework of incentives. However, as of 2022, solar and wind have an operating installed capacity of just about 1.5% of the capacity mix.
- The next five years could see a sharp increase in solar and wind capacity. If the approved capacity effectively enters into operation, shares of solar and wind energy in Colombia’s capacity mix will increase to nearly 40% by 2027.
- The expected large deployment of wind and solar resources in Colombia can be used to leverage creation of local employment, gender equality and benefits to local communities and Indigenous peoples. This will require strengthened policy frameworks to avoid negative effects on these areas.