Findeter Credits

Energy, Renewables    Oct 5, 2018 1:59 PM

Findeter (Financiera de Desarrollo Territorial) announced a new strategy to finance electricity projects in the country. The entity participated in the II International Meeting of Electric Mobility.

According to El Heraldo, Findeter announced new resources for energy efficiency projects. The entity presented new lines of credit for the use of electric vehicles in Colombia.

Rodolfo Zea, President of Findeter, said the entity is offering attractive credit conditions for the long term. He commented that the entity seeks to ‘attack’ a failure of the energy market in Colombia, as there are no attractive conditions for financials credits at present.

“Findeter has credit lines for the energy, infrastructure and transportation sectors for up to 15 years with three years of grace,” pointed out Zea.

Zea highlighted that the government created the program ‘ReActiva Colombia’ with a budget of CoP$350B at very competitive rates to finance projects related to energy efficiency and renewable energy.

“These resources are subsidized by the Nation thanks to the compensated rate line Sustainable Infrastructure. We also have the special KFW line for sustainable energy, which are resources that KFW lent us to offer financing at a lower rate than the market,” commented Zea.

He said that the electric vehicle market is under development in Colombia, and several investors have shown their interest in this segment. Zea commented that the public and private sector want to take advantage of the opportunities that this industry offers.

Zea said that the growth of this market will boost electricity demand in Colombia, facilitating the entry of new technologies and renewable energy.

He recalled that electric vehicles represent an improvement in energy efficiency compared to traditional technologies, and this type of cars have advantages in operating costs and lower pollution levels.

Bottom-Line: Colombia must promote the entry of more environmentally friendly transport alternatives in an orderly manner and transiently. Undoubtedly, these lines of credit will be key to financing new energy projects.

 

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