Colombia Renewable Energy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The renewable energy market in Colombia is expected to grow at a CAGR of more than 2.6% in the forecast period of 2020-2025. Factors such as supportive government policies and efforts to meet the rising power demand using renewable energy sources are expected to be significant contributors to the growth of the market. With the commitment of the government to obtain maximum energy from renewable and to reduce carbon emissions, the share of renewable is expected to grow significantly and are driving the renewable energy market further. On the other hand, factors like unfavourable climatic conditions and the use of other conventional energy sources such as coal and natural gas are a few restraining factors for the Colombia renewable energy market.
Key HighlightsThe Colombia renewable energy market is moderately consolidated. Some of the major companies include Celsia SAESP, DNV GL AS, Enel Green Power SpA, Ventus Ingeniería S.R.L, and EDP Renovaveis SA.
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