Small hydropower (SHP) has existed for more than a century in Colombia, and is gaining reserved interest as an option to mitigating climate change. In this paper we investigate the prospects for SHP in Colombia based on an analysis of economies-of-scale and learning-by-doing effects. We created an inventory of SHP plants realized in Colombia between 1900 and 2013, and focused on grid-connected SHP stations only. In the economies-of-scale part of our analysis we considered all SHP plants with a capacity lower than 20 MW.