AN EXPLORATION OF THE BEGINNING OF THE ENERGY TRANSITION IN LA GUAJIRA, COLOMBIA

Abstract

Colombia's new Energy Transition Law (Law No. 2099) was passed in 2021, to reach a 20 percent reduction in greenhouse gas emissions by 2030 and make the country carbon neutral by 2050. This MP study explores the costs and benefits of investing in various projects that would help Colombia achieve net-zero emissions by 2050, such as developing a wind and solar PV farm in La Guajira or adopting electric vehicles. In addition, it compares Colombia to other Latin American countries, including Brazil, Argentina, Venezuela, and Mexico in terms of their efforts to transition to a low-carbon economy. This MP also reviews industry-standard practices, data, and modeling tools, as well as energy governance in Colombia, concluding with recommendations on how these wind and solar PV projects contribute to the energy transition and help halt the combustion of fossil fuels.