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SPECIAL GUEST U. S. Em b a s sy B o g ota | Pag e 4 / 4
biomass in Colombia and noted the growing interest indicative of the hundreds of NCRE projects, totaling seven gigawatts of generation, pending government approval. Solar projects appear as the most promising due to the abundance of solar generation locations as well as the ease with which these projects can be integrated into the existing grid. Colombia’s Caribbean coast offers excellent conditions for wind projects, while opportunities for solar projects exist throughout the country. As solar costs continue to fall, rapid growth is expected in industrial and community rooftop solar. As pending regulatory and connectivity issues are addressed, companies should begin conducting evaluations to quantify Colombia’s renewable energy market to pinpoint the most attractive opportunities for U.S. investors and firms to provide their expertise, products and services. Smart City technology and Colombia’s renewable energy market represent strong investment opportunities for U.S. companies. With the majority of Colombia’s population already living in cities, policy makers must prioritize efficient urban planning in order to accommodate its urban growth, effectively manage resources, and mitigate costly environmental damage. The Smart Cities initiatives, particularly in Bogota and Medellin, aim to accomplish these goals through improved infrastructure and a growing renewable energy sector. As Colombia’s largest trading and investment partner with a strong history of friendship and cooperation, the U.S and its companies are uniquely positioned to offer expertise, products and solutions that will help Colombia develop its urban infrastructure, strengthen its energy sector, and provide sustainable economic opportunities for its citizens.
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