Release date: 12 June 2024
Promoter – Financial Intermediary
CARIBEMAR DE LA COSTA SAS ESPLocation
Description
The project will finance the refurbishment and modernisation of the electricity distribution grid in the North of Colombia, improving the quality and reliability of electricity supply and enabling the connection of new system users.
Objectives
With the aim to support the Global Gateway Investment Agenda and the EU priorities in Colombia, the investment programme will expand and modernise the electricity network and to reduce technical and commercial losses in the country. The investments will build or upgrade lines and substations to meet growing demand (enabling the connection of new system users), improve the quality and reliability of electricity supply, including targeted investments in low-income populations areas.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
EUR 472 million
Environmental aspects
Given the nature and characteristics of the investments envisaged, none of the sub-projects will require a full environmental and social impact assessment (ESIA) in line with Colombian Law No. 1076 of 2015.
Procurement
The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.
Status
Under appraisal - 9/06/2023
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).