CABEI signs agreement to promote efficient energy consumption
CABEI launched a pilot plan to conduct energy audits at SMEs interconnected to the COOPELESCA R.L. electricity service cooperative; the SMEs will be subsequently considered for bank financing.
San José, April 21, 2015.- The Central American Bank for Economic Integration (CABEI), through its Green MSME Initiative, and the company Inversiones La Manguera S.A. signed a US$50,000.00 technical cooperation agreement to implement a Plan to Improve Energy Efficiency for members of Cooperativa de Electrificación Rural de San Carlos (COOPELESCA R.L.)
The Plan’s objective is to conduct 15 energy audits for previously identified COOPELESCA members because of the quality of the energy they consume and their potential to implement improvements in their production processes, equipment and electrical installations, among others. In addition, these beneficiaries have been evaluated by commercial banks as potential clients for financing aimed at energy efficiency and/or renewable energy projects based on their capacity to take on financing.
"The agreement seeks to evaluate the technical and economic feasibility of alternative energy techniques that can be implemented by SMEs in the area and to promoting bank financing. In this way, CABEI is fostering efficient energy use that will lead to improvements in terms of business competitiveness and the environment," said CABEI Manager for Costa Rica, Hazel Cepeda, while presiding over the signing ceremony.
CABEI’s Green MSME Initiative is a tripartite initiative with financial support from the German government’s KfW Development Bank and the European Union. It promotes financing for small scale renewable energy and energy efficiency projects on the order of US$42 million, which is channeled through the Bank’s network of financial institutions.
CABEI has also approved the use of technical assistance resources amounting to US$3.6 million aimed at providing technical cooperation to financial institutions; updating, designing and implementing financial products focused on renewable energy and energy efficiency; conducting energy audits at MSMEs; and preparing feasibility studies for renewable energy projects.
