Fenoge talks renewable energies

Regulation & Policy, Renewables    Nov 10, 2021 4:15 PM

Fenoge’s Katharina Grosso spoke about the role of the entity to promote unconventional renewable energies in the country.

Grosso told La Republica that Fenoge’s role is to boost the energy market.

“We finance the unconventional sources market, to increase the industry’s competitiveness,” Grosso said.

The expert recalled that Fenoge financed the auctioneer in the energy auction. The entity placed about CoP$1.4B in the market for the auctioneer and the auction auditor, which translated into an investment of CoP$3.3T, according to Grosso.

“We can create and participate in investment vehicles that can finance unconventional sources such as green hydrogen, blue and electrification,” Grosso highlighted.

She explained that the fund will strengthen the line of indirect credit operations, where, through partners, anchor resources will be put in place for more projects to join.

“Fenoge can put those anchor resources at 0% or at a much lower rate to have a benefit for those who apply to the equity fund. Our baseline would be around CoP$23B to CoP$30B a year. It will happen before April 2022,” Grosso said.

Grosso said that the fund has financed 32 projects since 2019, benefiting 48,000 energy users (households).

“By 2022, we expect to add 18 more projects, 15,300 more users, 2,700KW of installed capacity and 8.4 gigawatts of savings for Colombians,” the expert said.

In addition, Grosso said that the entity plans to facilitate investment for nuclear, wind, solar, tidal, among others.

“The line for nuclear is there, but we have not had requests to finance this kind of energy,” Grosso said.

Bottom-Line: Boosting financing mechanisms for new energy sources – especially those with technological risk – will be fundamental to accelerate their inclusion in the country’s energy matrix.

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