In January 2023, Colombia became the first country to benefit from the Climate Investment Funds’ (CIF) Renewable Energy Integration program (REI). The country will access $70 million in highly concessional capital to finance clean energy integration solutions like advanced metering, energy storage, and other efforts designed to make the use of variable renewable energy more flexible, cost-efficient, and resilient. Through these investments, Colombia expects to achieve 1.6 Mt CO2eq emissions reductions while providing nearly 20,000 households with increased access to clean energy and achieving total electric system cost reductions.
Hear from CIF's Clean Energy Lead Daniel Morris, Colombia's Javier Campillo, Director of IPSE, and IDB's Alexandra Planas, Lead Energy Specialist, in this video: