CABEI promotes renewable energy development in the region
Over the past five years CABEI has financed 80 percent of installed electrical capacity in the region for projects that generate close to 400 MW per year.
Panama City, July 13, 2015.- On July 13 and 14, regional renewable energy experts participated in the “Central American Renewable Investment Summit” (CAMRIS) organized by New Energy Events.
Representing the Central American Bank for Economic Integration (CABEI), Mr. Horacio Leiva, Manager of the CABEI Sectors and Countries Division, inaugurated the event. During his remarks, he noted that, “At CABEI we have overcome the challenges of the energy sector, increasing our participation in the diversification of the regional energy matrix by 28% through 2010 and by 37% at the close of 2014”.
In this sense, the CABEI officer highlighted the fact that in the last five years, 80% of new electrical installed capacity in the region has received CABEI financing, with approved projects providing close to 400 MW annually.
In addition, more than 80% of these projects generate clean energy on the short term. Mr. Leiva emphasized that clean energy makes economic growth possible without environmental degradation. “This contributes to improving energy security for the Central American economies, reduces the carbon foorprint and promotes climate change mitigation,” he added.
The CABEI delegation also included Mr. Otto Gutiérrez, Strategic Programs and Acquisitions Head, and Mr. Mario Cerna, CABEI Energy Specialist; they presented the different CABEI financial instruments for supporting renewable energy initiatives in the region; these have made the Bank the energy sector’s most important regional partner.
The Central American Bank for Economic Integration (CABEI) and the Accelerating Renewable Energy Investment in Central America and Panama Project (ARECA) were among the event’s sponsors.
