CABEI shares energy efficiency experience in the region

The rapid increase in loans and projects that CABEI supports in the region reflects the Bank’s commitment to promoting energy efficiency in Central America. The objective is to reduce dependence on hydrocarbons and fossil fuels in the region, as well as the emission of harmful gases into the environment.

CABEI Executive Vice President Alejandro Rodríguez highlighted CABEI’s important role in channeling financial resources and thus promoting renewable energy projects at the "National Energy Efficiency Forum and Fair,” which was held on October 17 and 18.

In his presentation, Mr. Rodríguez said that the institution has had a support strategy for the Central American energy sector since 2008. This strategy requires CABEI to channel its resources towards the region’s energy sector under three basic guidelines:

• Promote the implementation of energy efficiency in all energy sources.
• Promote the development of renewable energy sources.
• Promote the development of the necessary infrastructure for energy conversion, transportation and storage.  

With respect to CABEI’s experience, during 52 years of regional history it has supported more than 176 energy projects with more than US$3.2 billion, of which over 60% has been directed at renewable energy power generation projects and 20% at support for regional energy infrastructure projects, such as the Central American Electric Interconnection System (SIEPAC1).

These projects represent 35% of the region’s installed capacity, contributing to a reduction of more than 30 million tons of CO2 emissions.

In addition, renewable energy projects totaling about 1,000 MW are currently being executed with CABEI resources.

Through its strategy to support the energy industry and its energy efficiency program, CABEI supports the region with the implementation of projects that reduce financial barriers to development.

In addition, CABEI provides different financial support mechanisms and executes initiatives that provide financing services and facilities for energy efficiency projects throughout the region.