Colombia is pushing energy companies for diversified resources, transitioning from fossil fuels to non-conventional renewable resources, as the country is pursuing its 51% carbon dioxide (CO2) emissions cut by 2030.
The country calls for its oil companies, including the state-run Ecopetrol, to lead the transition, but not leaving behind the investments in the oil and gas output.
By the end of 2022, President Ivan Duque targets the country would consume 2,500 MW of renewable energy in its energy matrix. In comparison, in 2018, Colombia only has 35 MW of renewable energy capacity installed, taking part of 0.2% in the energy matrix.
The country also aims to expand its renewable energies’ installed capacity and storage while progressing itself into the “silicon valley” of Latin America.
