SoWiTec enters wind energy market in Colombia

Wind resources in Colombia have been identified amongst the most promising in South America with a theoretical wind power potential of several Gigawatts. Still the country has installed only a few wind turbines up to now while the electricity sector is dominated by large hydro power plants and thermal energy. Despite Colombia’s rich deposits of energy sources like natural gas and coal reserves, the interest in its nonconventional renewable energy market is growing mainly due to climate concerns and predicted growing energy demands.

Colombia is expected to establish a framework for renewable energies within the upcoming years. As investments into the country have tax benefits and the economy has experienced a strong growth during the past years, this promising market opens up new excellent business opportunities for SoWiTec and helps expanding their market presence in the Latin America.

SoWiTec Energias Renovables de Colombia S.A.S. has been registered beginning of 2013 and will operate from their office in Bogota focusing on wind energy and solar project development in the country’s Northern regions.

SoWiTec is one of the largest developers for renewable energy projects in Latin America and Russia. With its activities in those markets, the company counts with a pipeline of several thousand Megawatts under development in different stages ranging from green field to fully permitted and build ready projects. Key markets like Mexico, Uruguay and Brazil have already been entered a few years ago so that the company has established its presence in those markets by successfully selling and contracting several projects. Steadily grown during the past years and now counting with more than 200 employees in eight countries, SoWiTec is opening up further markets to strengthen its worldwide position.

Source: SoWiTec

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