Colombia receives $40 billion FDI in mines & energy sector
Posted: 3 September 2009
Colombia is set to receive a total of USD$40 billion in FDI in the mines & energy sector in the next few years.
The country offers an extensive range of opportunities in the following sectors: oil, gas, mines, bio fuels and hydropower.
Colombia is an attractive option for investors in these renewable energy areas and hydropower and biofuels play a key role in the country’s prospects of FDI:
Bio fuels
Colombia has become a world class bio-energy producer:
- Significant land availability: 6.5 million hectares available for biofuel crops production without comprising rainforest or tropical forests
- High productivity: Colombia’s most energy efficient crops are sugar and palm oil. The country is the world’s fifth palm oil producer (600,000 tons/year) and the largest one in Latin America and it has the highest sugar productivity in the world. (12,78T/crop year).
Hydropower
With the best energy infrastructure value chain in Latin America and being the second country with most access to water in Latin America, the country offers a great hydro-energy potential:
- 742,725 watersheds
- 52,075 m3 /seg per year
- Annual rainfall of 3,000 mm
- Precipitation of 1,313 km3
‘Pescadero-Ituango’ is one of the main projects within this category with a multi billion investment. This includes the cost of infrastructure projects involved such as roads and bridges, as well as equipment.
It is located in Antioquia (Central Northwestern part of Colombia).
With a capacity of 2,4 Gigawatts (GW) the hydroelectric is set to produce an average of 13,900 Gigawatt Hour (GWh) per year and will also guarantee 8,195 (GWh) of electricity annually.
Energy generation is also one of the main areas of the clean technology projects that Colombia offers within its portfolio of CDM (Clean Development Mechanism).
This includes 127 projects which represent an emission reduction potential of 15 million tonnes of CO2e annually.
Posted by Richard Price, Editor, EnergyME.com
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