CABEI finances renewable energy generation to improve energy efficiency
Over the last 10 years, CABEI has approved US5.17 billion for approximately 210 projects in the energy sector
The Central American Bank for Economic Integration (CABEI) prioritizes the subject of energy as one of its focus areas. The Bank has carried out numerous projects in this focus area involving renewable energy generation and electricity transmission and distribution. It has also conducted initiatives aimed at improving energy efficiency and at producing biofuels that are not detrimental to food security.
During the regional seminar, "The Future of Smart Grids in Central America," CABEI specialist Mr. Mario Fernando Cerna explained how the Bank established sustainable energy production and efficiency as one of the main focuses of its development interventions.
Over the last 10 years, CABEI has approved US$5.17 billion for approximately 210 projects in the energy sector. 64% of the projects involve renewable energy and 19% energy infrastructure (72% for the public sector and 28% for the private sector). Pursuant to its 2015-2019 Institutional Strategy, CABEI will continue to promote the development of energy sources with US$2.20 billion in approvals.
Mr. Cerna also highlighted CABEI's participation in international integration projects targeting the region, such as the Central American Electrical Interconnection System and the Regional Electricity Market.
The seminar was organized by the Regional Electrical Integration Commission (CIER) for Central America and the Caribbean, the Costa Rican Electricity Institute and Universidad de Costa Rica. The seminar’s keynote speakers included:
• John McDonald, P.E., Director for the Technology Strategy and Policy Development for GE Grid Solutions.
• Dr. Julio Romero Agüero, Vice President, Executive Consultant for Business Innovation, Quanta Technology Expert and Senior Director of Quanta Technology Distribution, Raleigh, NC.
• Randy Rhoads has over 22 years’ experience in the public electric utility industry as an employee, integrator and systems consultant.
• Sharon Allan has been helping participants in the Energy Sector to promote the business value of the power grid by aligning and implementing strategies, processes and operations.
• Eduardo Nery has been CEO of Energy Choice consulting company located in Belo Horizonte, Brazil since 1996. His work involves strategic planning for sustainable development in institutions, cities, regions or countries, and the development of energy projects.
The seminar represents a substantial step forward for sharing experiences and developments in the field of smart power grids in Central America and the Caribbean. It will contribute to building knowledge about the potential, challenges and benefits of smart grids. The seminar, which was led by international experts, will facilitate subsequent decision making in the participants’ countries, improve the region’s competitiveness and streamline sustainable regional development.
