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Colombia's Isagen expects supply call in 2017

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Colombia's Isagen expects supply call in 2017

Colombia's next power supply auction should occur in the first half of next year, according to Luis Fernando Rico, CEO of local generator Isagen.

Regulatory adjustments to the reliability charge must first be implemented, possibly next quarter, the executive said during the company's second quarter results presentation.

Controversy over alleged misuse of reliability charge revenue came to the forefront during the country's recent power supply crunch.

When asked about Isagen's project development pipeline, Rico said he expects permitting for hydropower projects Cañafisto (960MW) and Piedra del Sol (156MW) to advance within two months.

Isagen generated 5,203GWh in the first half, down 28%, which the power producer attributed to weather phenomenon El Niño and the Guatapé plant contingency.

In recent days, Isagen reported its board authorized the issue of local bonds for up to 300bn pesos (US$103mn).

[GRAFICO:FIGURA:ID_3159]

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