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Colombia

Stakeholder Workshop: Unlocking private finance for distributed renewable energy in Colombia's non-interconnected zones

13 July 2022
15h00 - 18:00
Paris, France
Virtual Meeting

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Background

The Government of Colombia has set ambitions to deploy renewable solutions as a means to provide affordable and clean energy solutions to remote communities. In particular, hybrid and renewable solutions have been given a central role in expanding electricity services under the Indicative Plan for Expansion of Electricity Coverage in non-interconnected zones (PIEC) 2019-2023 elaborated by the Ministry of Mines and Energy’s Planning Unit (UPME). This is in addition to Law No. 1715 of 2014, known as the “Renewable Energy Law” which directed the Ministry of Mines and Energy (MME) to develop incentive schemes to partially or totally replace current diesel generation with renewable energy sources.

Overview

Hybrid mini-grids and solar home systems can provide solutions adapted to the size and needs of communities in non-interconnected zones, and reduce operation costs linked to expensive fossil fuel supply. Yet, providing electricity services in last mile communities bears a number of risk that create challenges for mobilising private finance and investment at suitable scale. Solutions to address risk and costs are therefore critical to unlocking affordable and reliable electricity services and making effective use of government funds.

This workshop aims to provide a forum for stakeholders to assess challenges, opportunities, and eventual mechanisms and de-risking instruments to scale-up finance and investment in distributed renewable energy services.

  • Watch the video recording of the event

 

 

Speakers

Opening and welcome

 

Section I: Investment landscape and opportunities to reduce risk for new renewable project development

Moderator: Lenka Buckova, IPSE

Roundtable discussion on needs to reduce risks and costs for distributed renewable energy in non-interconnected zones

 

Section II: Development programmes and use of de-risking instruments to mobilise investment

Moderator:  Lenka Buckova, IPSE

  • Luis Alejandro Noguera and Lukas Socarras, Departemento Nacional de Planeacion (DNP): Key challenges to financing renewable energy in Colombia's non-interconnected zones
  • Thomas Black, USAID and Javier Cuervo, IADB: “The role development partners in addressing costs and risks to enable market growth”
  • Fernando Carrera, Findeter: “The role national development bank in distributed renewables”
  • Santiago Abraham Montoya, Bancolombia: “The current financing landscape for renewable project development in ZNI”

Roundtable discussion on priorities and de-risking needs to support private finance and investment in renewable energies in non-interconnected zones.

 

Closing remarks

  • Jose David Insuasti, IPSE Director
  • Lylah Davies, CEFIM Programme Policy Analyst, OECD

Contact

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