Market Outlook

What’s driving Colombia to become the next hot solar market in Latin America?

In his interview with PV tech, the CEO of MPC Energy Solutions, Martin Vogt, points to Colombia and Panama as markets to keep an eye on. “The Colombian market in particular was almost non-existent until two years," says Vogt. “The big white space on the map of Latin America, with zero installed [renewables] capacity if you exclude large-scale hydro,” he says. “This is despite Colombia being one of the largest economies in Latin America with a high potential for solar PV.” 

Martin Vogt goes on to state the reasons for this: The size of its economy and relative lack of solar capacity; a liberalised regulatory framework that facilitates bilateral agreements; and a government keen on increasing solar deployment in a country with a conducive environment.

“The solar PV installed capacity [in Colombia] has grown from 50MW in 2018-19 to about 2.5GW by the end of this year or mid next year, depending on how fast these projects can be built under the disrupted supply chain,” says Vogt further.

Read full article here:

Bogotá, Colombia

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