Enel Colombia, the Colombian subsidiary of Italian renewable energy group Enel Green Power, has started commercial operations of a 370 MW solar photovoltaic project.
Located in the northern department of Atlántico, Enel said the Guayepo I and II project is the largest operational photovoltaic site in the country. It surpasses another Enel Colombia photovoltaic plant, La Loma, which has an operational capacity of 240 MW and began commercial operations earlier this year.
More than 820,000 solar panels were installed at the project.
Earlier this year, the Enel Group received a US$300 million loan from the European Investment Bank to support the development of the project, as well as to support its distribution business in Colombia.
In total, the company has four operational solar photovoltaic projects in Colombia, with a combined capacity of 700 MW. These four projects represent almost a third of total PV capacity in Colombia, said Antonio Crisol, general manager of Enel Colombia.
In addition, Enel was awarded 1.2 GW of solar PV in a 4.4 GW Colombian renewable energy capacity auction held in early 2024. Solar accounted for 99% of the awarded capacity, a quarter of which was awarded to Enel across six projects. Solar developer Verano Energy was also awarded capacity, with the 270 MW Las Palmeras project.
The falling levelized cost of electricity (LCOE) for solar power in several Latin American countries, including Colombia, attracted developers to build solar PV projects (Premium Access) in the region and increased the uptake of power purchase agreements.
