Colombia’s energy efficiency achievements

Energy, Financing, Regulation & Policy, Renewables    Feb 20, 2019 7:18 PM

The program is developed together with the Inter-American Development Bank (IDB) and the government of Denmark.

Colombia became the first country in Latin America and the Caribbean to issue energy efficiency policies under the Energy Efficiency Insurance Program (ESI), thanks to the support of the IDB, Bancoldex and the Government of Denmark, El Nuevo Siglo reported.

Insurance is one of the Program’s main tools, aimed at mitigating investment risk as it covers the damage of not obtaining the estimated energy savings.

This encourages a greater number of companies to invest in more efficient technologies and improve their environmental performance and productivity.

One of the initiative’s beneficiaries is the Neiva Plaza Hotel, in the department of Huila, which with an investment of CoP$122M was able to replace obsolete boilers with solar heaters, reducing its CO2 emissions.

Another investor is the Villa Martha Hotel, which with the collaboration of Energitel, will install a photovoltaic project in Turbaco, (Bolívar), with an investment of CoP$94M.

The two projects are insured by SURA and financed by Davivienda through the Bancóldex Energy Efficiency Line for Hotels, Clinics and Hospitals and backed up with resources from the IDB and the Climate Financing Fund (CIF).

Three other projects that have been insured by SURA, under the energy efficiency and power generation policy are a solar farm in the city of Pereira, with capacity of producing 9,723MWh a year, and a photovoltaic solar energy system in Bogotá, able to produce 11,292 kWh every month.

Bottom-line: Boosting the development of energy efficiency projects will keep granting international credibility to Colombia, which, based on the news, is already high enough to get the IDB interested on investing in the country’s energy transition process.

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