Renewable Energy Profile: Colombia.
Colombia possesses numerous fossil fuel and natural resources. The country has productive petroleum reserves, extensive coal reserves (the largest in South America), significant but largely untapped natural gas reserves, and extensive hydroelectric resources. A large amount of potentially productive oil and natural gas areas remain unexplored. Demand for energy (petroleum, natural gas, and electricity) is expected to grow 3.5% per year through 2020.
Colombia has only 28.1 Megawatt installed capacity of renewable energy (excluding large hydropower), consisting mainly of wind power. The country has significant wind and solar resources that remain largely unexploited. According to a study by the World Bank Energy the country has significant wind potential alone could cover more than the country current total energy needs.
In recent years, the government has shown its willingness to promote sustainable development, Colombia’s commitment to environmental conservation and energy diversification has received international recognition. For example, in 2008 and 2010, Yale University ranked Colombia in the top 10 in its Environmental Performance Index (EPI), a biennial report which ranks 163 countries on the achievement of established environmental policy goals.
In addition, in 2008, Colombia and the United States signed a memorandum of understanding (MOU) to advance clean renewable energy policies. The MOU expresses the intention of both countries to cooperate in the areas of non-conventional, renewable, clean energy sources through academic exchanges, agricultural and technological research and development, and scientific, technological, and business collaboration. The MOU also encourages the sustainable production and consumption of biofuels, and the promotion of sustainability projects in Colombia that create jobs, provide food security and better living conditions for rural populations, and encourage alternatives to illicit crop cultivation.
Sources:
Colombia: a Country with Energy Diversity.
Ministry of Mines and Energy of Colombia
Ministry of Foreign Affairs of Colombia
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