ABO Wind Signs Power Purchase Agreement With Grupo Renovatio After Landmark Private Renewable Auction
The Renovatio Group of Colombia and ABO Wind, a company listed on the Frankfurt Stock Exchange (Germany, AB9.F) with a subsidiary located in Medellín, signed a PPA for a 19.9 MW solar farm in Colombia. A PPA is a contract to purchase electricity at an agreed upon rate over a specified period of time.
This PPA is the second resulting from what has Renovatio says is Latin America’s first private renewable energy auction, securing the delivery of about 43 GWh per year for a 15-year period, starting in the second quarter of 2023.
Once in operation, the project will save around 200,000 tons of CO2 emissions, says Renovatio.
With this agreement, Renovatio enables the entry of two new solar farms to the Colombian electricity generation market, consolidating the entry of two new multinational players listed on major European stock exchanges.
“We are very satisfied with this second milestone of our auction that allows us to continue advancing in our vision of being the first 100% renewable energy supplier in Colombia. With this auction, Renovatio proves once again its ability to innovate in the Colombian electricity market and its commitment to the development of renewable energy in the country,” said Francisco Sanclemente, CFA, General Manager of Renovatio.
Christian Llull, Country Manager of ABO Wind Colombia says that he is very satisfied to have reached this important milestone. “Today ABO Wind is a major developer in the country with a 500 MWp portfolio of solar projects under development. The PPA for the 19.9 MW project is another step forward to promote the energy transition in Colombia, and its construction has the potential to contribute towards post-COVID-19 reactivation of the local labor market.”