CABEI, the European Union and the Government of Germany contribute to promoting energy transition in Ibero-America

San José, Costa Rica, September 20, 2023.- The Central American Bank for Economic Integration (CABEI), the European Union (EU) and the Government of Germany, through KfW, sponsored, through the tripartite Green MSMEs II Initiative, the V Ibero-American Energy Congress held in Costa Rica by the Ibero-American Energy Association (ASIDE), together with the firm Core Regulatorio, with the objective of generating a space for reflection on the challenges and opportunities of the energy sector in the face of the transformation towards cleaner, renewable and more efficient energies.

Under the theme "Renewable Energies and Energy Communities", a broad agenda was developed, addressing important topics such as the rules of the game in the energy transition, energy security, energy markets, innovation and new technologies, with the participation of experts from Spain, Portugal, United States, Mexico, Guatemala, Costa Rica, Panama, Nicaragua, Colombia, Peru, Chile and Brazil.

The event was attended by CABEI's Director for Costa Rica, Erwen Masís, who emphasized that "joining this Congress is a sign of CABEI's firm commitment to the energy transition in Costa Rica, as well as in the rest of Central America. With the implementation of the Green MSMEs Initiative in recent years, we have been able to support the sector, especially those focused on investing in renewable, efficient and cleaner energy".

"From the European Union we are convinced that the future is based on integrated electricity systems, less dependent on fossil fuels and better adapted to high percentages of renewable energy at zero marginal cost," said Mr. Matteo Banti, head of cooperation of the European Union for Costa Rica and Central America.

During the Congress, several MSMEs from the energy sector participated and learned about new business opportunities in areas such as biofuels and the transition to clean energy, as well as trends in the creation of public policies to promote the participation of MSMEs in the energy industry.

Through the Green MSMEs II Initiative, more than US$500,000 in technical assistance, more than US$37 million in loans, and more than US$3 million in guarantees have been granted at the regional level. In Costa Rica, more than US$157,000 has been invested in technical assistance in areas such as strengthening technical capacity to finance electric mobility initiatives and projects and investments to renew fleets with electric vehicles.