Colombia Clears Ecopetrol-Led Nereidas Geothermal Exploration Phase

On May 20, 2026, Colombia’s environment ministry approved the environmental viability of the exploratory phase for the Nereidas geothermal project led by Ecopetrol, Baker Hughes and CHEC. The decision grants a partial, conditional carve-out in a protected forest and introduces updated terms of reference for geothermal developments, marking the country’s first large-scale effort. The project could ultimately deliver 50–100 MW of baseload renewable power for more than 250,000 families, helping Colombia reduce its heavy reliance on hydropower and rainfall volatility. Near-term impact on oil benchmarks remains limited while providing modest medium-term support for Ecopetrol’s diversification strategy.