PAIPA - BOYACÁ

Colombia

Surface area

• Total 306 km²1

Altitude

• Average 2525 m a.s.l.

Population (2023)

• Total 35,370 inhabitants

• Density 104.17 inhabitants/km²

• Urban 22,125 inhabitants

Strategic Approach and Phased Planning

The development of Cóndor Paipa will be carried out in several strategic phases, each focused on optimizing the use of the geothermal resource and ensuring the technical, economic and environmental sustainability of the project. The main stages are described below:

1. Geothermal Exploration:
Based on studies by the Colombian Geological Service and independent assessments, this initial phase will be dedicated to the identification and evaluation of the geothermal resource. These studies will determine the viability of the project, ensuring that the energy and environmental benefits are maximized.

2. Development and Construction:
During this stage, a geothermal plant designed under the highest standards of energy efficiency and with a strong commitment to respect for the environment will be built. With an estimated capacity of 21.5 MWe, the plant will not only reduce the dependence on fossil fuels, but will also position Boyacá as a national benchmark in the generation of renewable energy.

3. Implementation of Cascading Uses:
In addition to the generation of electricity, the project will take advantage of the residual heat from the plant to be used in cascade in industrial, tourism and hotel applications. This model will allow the diversification of the regional economy, providing direct benefits to key sectors, improving their competitiveness and promoting the creation of green jobs.

Economic Impact and Investment Projection

The Cóndor Paipa project represents an initial investment of US$25 million, with the potential to reach US$180 million in its final phase. With a projected useful life of 30 years, the project could be extended to more than 100 years under proper and sustainable management, ensuring the viability and economic growth of the region over the long term.
The most relevant economic impacts of this project include:

Agribusiness

Tourism and Hospitality

Improving productivity in agro-industrial processes, promoting
sustainable practices and energy efficiency in agricultural production.

Development of thermal centres, eco-friendly destinations and tourist attractions that will take advantage of the region's natural resources, promoting more responsible and environmentally conscious tourism.

Commitment to Community and Sustainability

The Condor Paipa Project is not only a technological breakthrough, but also a model of community integration and social and environmental responsibility. Its approach includes:

Furthermore, the project is aligned with the Sustainable Development Goals (SDG), promoting initiatives in education, gender equality, and inclusive social development.

Regional Transformation

The Cóndor Paipa Project has transformative potential for the Boyacá region. Its horizontal and collaborative development approach ensures that the success of the project is based on an integration of diverse technical and human capabilities, where different areas of the Dewhurst Group work in synergy to offer solutions adapted to local needs. This development model not only represents an opportunity to generate clean energy, but is also aimed at promoting the economic, social and environmental progress of nearby communities.

Key Project Components:

1.Electricity Generation

2.Geothermal Center of Excellence

3.Restructuring under a Public-Private Partnership (PPP) Model

4.Impact on Sustainability

The project involves the construction of a geothermal plant that will supply clean and renewable energy to the Colombian electrical grid, using the favorable geological conditions of Boyacá.

The creation of a geothermal center of excellence is planned, which will serve as a space for training, research and knowledge transfer. This center will contribute to strengthening the geothermal industry in Colombia and Latin America.

The project is being restructured as a Public-Private Partnership (PPP), which will allow the active participation of various actors and will invest in strengthening public infrastructure and private investment.

The project is designed to integrate with the best sustainable practices, prioritizing environmental conservation and the efficient use of resources.

Strategic Importance:

Energy Diversification: The project will contribute to diversifying Colombia's energy matrix, reducing its dependence on fossil and hydroelectric sources.
Regional Development: It will generate a direct impact on the local economy, creating jobs and strengthening the capacity of communities to take advantage of natural resources in a sustainable manner.
Regional Reference: Cóndor Paipa will position itself as a reference model for future geothermal projects in Latin America, contributing to the expansion of geothermal energy in the region.