IaDB approves funds to promote private investment in Colombian renewables

8 March 2016

The Inter-American Development Bank (IaDB) has approved a $9.3 million loan through the Banca Nacional de Desarrollo to promote private investment in renewable energy in areas of Colombia that are isolated or not interconnected.

About 60 percent of Colombia's territory is not connected to the electricity grid, and roughly 1.8 million of its people rely on limited and scattered power services.

Thanks to the IaDB loan, private sector companies that supply and administer public electricity services, as well as providers of renewable energy technology that have a history of experience and credit with mini-grids, will be able to expand their services. This is expected to include small hydropower.

By the end of the program in 2020, it's expected that emissions of greenhouse gases will have been reduced by 67,900 tons.

 



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