Colombia Sustainable Investment Roadshow

Source: www.gulfoilandgas.com 4/30/2024, Location: South America

BlueFloat Energy would like to thank the government of Colombia and PROCOLOMBIA UK for the invitation to the Colombia Sustainable Investment Roadshow held in London on the 23rd and 24th of April. The event brought together pivotal players for offshore wind development in Colombia, including government stakeholders, supply chain representatives, offshore wind developers, and investors. The British Embassy in Colombia, present at the event, emphasized the UK’s strong support for fostering experience sharing with Colombia to help kick-start the industry there.

Because BlueFloat Energy recognized the potential of offshore wind in Colombia early on, we have been pioneering the development of bottom-fixed and floating projects there since 2021. Our early mover approach positions us well for the upcoming offshore wind tender, which will be the first in Latin America. This tender is a significant milestone, confirming Colombia’s crucial role in driving the energy transition in the region. Winners will be granted Permits of Temporary Occupancy, providing site exclusivity for a period of eight years, allowing developers to conduct site investigations to de-risk their projects.

Myriam Samba, Head of Government Affairs at BlueFloat Energy, participated at the Panel Investment, where she emphasized the need to look beyond the upcoming tender and engage in a constructive dialogue between the government and the industry to address the current barriers:
Provide clarity on the future route-to-market. To boost confidence among offshore wind developers and international investors, contractual mechanisms should be defined for the offtake of the electricity that will be generated by the offshore wind farms.

Define the terms of reference for the Environmental & Social Impact Assessment processes in line with the highest industry standards, to ensure that offshore wind projects are developed in the most environmentally, socially, and economically sustainable way to gain acceptance from local communities.

BlueFloat Energy is confident that offshore wind will generate significant and sustainable socioeconomic benefits for Colombia for many decades to come. This includes crucial local investments in port and grid infrastructure and the creation of high-quality jobs throughout the development, construction, and operational phases.


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