Green financing in Bogota

Company News, Renewables    Jul 20, 2021 12:25 PM

Empresa de Acueducto y Alcantarillado de Bogotá (EAAB) plans to acquire green financing lines for sustainable projects.

The goals are to build water treatment plants, renovate hydroelectric plants and fulfill the target of integrally managing the water resource, El Espetador reported.

EAAB expects to make an investment of close to CoP$10T, financed through internal cash generation, resources from financing agreements and debt resources, including ‘green bonds’.

CEO Cristina Arango said that the company will structure debt over the next few years of US$855M; US$200M will be sought through green financing.

The company has identified 101 sustainable projects that meet the standards of the International Capital Market Association (ICMA) and the Climate Bonds Initiative (CBI).

The company expects to promote the green projects of the Canoas Wastewater Treatment Plant and Lift Station, the modernization of the Tibitoc Drinking Water Treatment Plant, the Ventana Micro Hydroelectric Plant, and the interceptors associated with the decontamination of rivers.

In addition, the company has invested close to CoP$3.9T to decontaminate the Bogota River in recent years.

It is important to recall that EAAB has been recognized with the ‘AAA’ rating granted by the financial corporation Fitch Ratings during 12 years, which allows it to generate a good debt capacity.

With this, it is expected that the company will be able to access innovative credit systems to leverage the programmed projects.

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