Is this the ideal time to invest in solar energy in Colombia?

Solar energy investment in Colombia

The power of the sun bathes Colombia’s jungles, coffee plantations and beaches, every day. With an unparalleled biodiversity, the country is fed by the sun’s energy, making flowers, exotic fruits and gigantic trees grow, forming a paradisiacal landscape. However, the sun also drives our economy and makes us part of the great transformation of renewable energies in which the country is actively participating. 

This transformation is gaining strength in Colombia thanks to the country's commitment to the subject, regardless of political horizons. An example of this is the commitment shown by the nation to comply with the Sustainable Development Goals set forth by the United Nations, where goals are established to achieve a sustainable and environmentally friendly lifestyle at a global level. 

Colombia is compelled by its love for the beauty of its nature and a genuine interest in preserving it. This is why solar energy production has become so relevant in the country's short-, medium- and long-term projects. With an interest to preserve life, Colombia has prioritized this form of energy in the national industry, making it profitable for investments. 

Colombia's unique conditions

The country of beauty enjoys territories where the sun arrives with more strength and persistence. One of these areas is the department of La Guajira. This territory has a solar irradiation level 60% higher than the global average, with an average of around 194 W/m². This makes it a paradise for the development of infrastructure to produce solar energy through solar plants. 

This is also a region with important qualities, for its strong wind and the presence of water sources, making it an ideal destination for investments in wind and hydroelectric energy.

In addition, the combination of all these factors has positioned Colombia as a country with great advantages for green hydrogen production, with the potential to be one of the most competitive worldwide. Undoubtedly, this is a territory full of opportunities for investments in renewable energies. 

Benefits for sustainable energy investment in Colombia

The country of beauty wants to give a warm welcome to any investor with sustainable and environmentally friendly business models. For this reason, it has created an easier path to follow, in which you as an investor can discover the opportunities that Colombia has for you.

One of the benefits for sustainable investments in Colombia is the favorable tax environment and facilities that some companies have designed to alleviate operational costs. The sale of electricity generated based on wind, biomass or agricultural waste, solar, geothermal, or sea energy will be exempt from income tax for 15 years, starting in 2017.

Also, incentives have been developed for investments in non-conventional energy sources. This includes investments aimed at research, development and production of electric energy with non-conventional sources. These can deduct 50 % of their income tax.

Finally, investors can count on entities such as ProColombia, which is always ready to offer relevant information regarding investments in the country and guide investors in their arrival in Colombia at all stages of the way. 

Furthermore, businesspeople from all over the world can participate in events such as the Colombia Investment Summit, where they can learn about sustainable projects and the economic structure of the country of beauty.

Projects that have been developed 

2023 and 2024 have been years of progress for solar energy in Colombia and for companies investing in solar energy here. During this time, large projects that had started years ago have been developed, showing that solar energy is an issue in which different political sides have united thanks to the interest and the number of advantages that solar energy offers in Colombia. 

In January 2023 Ecopetrol inaugurated a new plant with a 26 MWp capacity and more than 49,000 solar panels with bifacial technology. A success story in which the company took a giant step in the energy transition. 

In addition, in February 2024, La Loma Solar Park in Cesar was inaugurated with 387 hectares of solar panels, thanks to the collaboration between the company Enel and the national government. This park will deliver 420 GWh of energy per year for 20 years, avoiding the emission of more than 200,000 tons of CO2. 

Other solar energy companies in Colombia involved in the creation of solar plants, such as Celsia and Trina, have participated in the development of national infrastructure for the production of renewable energies. 

This is a significant global phenomenon, and Colombia is deeply committed to advancing in this area. Do not miss the opportunity of investing in solar energy in Colombia and discover the opportunities and advantages that the country of beauty has for you. Learn more about investing in Colombia here.  

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