Accelerating Renewable Energy Investments through CABEI in Central America

Project Summary

The overall objective of the project is to accelerate renewable energy investments through the Central American Bank for Economic Integration (CABEI). The project is a regional approach, involving Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama and Belize which aims at reducing greenhouse gas emissions by promoting use of renewable energy systems for electricity generation in grid connected applications, thereby contributing to the economic development of Central America. The specific objective of this project is to remove financial barriers that currently impede the large-scale development of renewable energy projects in Central America. Barrier removal requires the following activities:1. Integrate small-scale renewable energy lending strategies internally at CABEI;2. Development of a pro-active small-scale renewable energy pipeline to be included in the lending portfolio of CABEI;3. Development of appropriate risk mitigation mechanisms to increase the availability of investment capital for RE projects less than 10MW; and4. Support market penetration through expanded financing opportunities.

Project Details

GEF Project ID
975
Project Type
Full-size Project
Status
Completed
Country
Regional
Region
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
United Nations Development Programme
Executing Agencies
Central American Bank For Economic Integration (CABEI)
GEF Period:
GEF - 3
Approval Fiscal Year:
2005

Financials

Project Preparation Grant Amount
100,000 USD
GEF Project Grant
6,920,000 USD
Co-financing Total
82,175,000 USD
GEF Agency Fees
600,000 USD
Total Cost 89,195,000.00 USD

Project Timeline

Received by GEF
Preparation Grant Approved
16 Jan 2001
Concept Approved
01 Nov 2004
Project Approved for Implementation
30 Apr 2007
Project closed
15 May 2012