The European Union is determined to help Colombia promote “unconventional” renewable energy projects. The decision came after Brussels had reviewed a study of the Development Bank of Central America (CAF), which assessed the use of energy sources to mitigate the side effects of environmental changes. The EU will provide €4 million in investment very soon to support this objective.
The Colombian government said that alternative energy sources, which release fewer greenhouse gases, have a big potential to reduce the impact of the electricity sector on climate change. “We are working on promoting the development and use of non-conventional sources of energy, specifically renewable ones, as a necessary means to move toward sustainable economic development, reducing greenhouse gases and ensuring security of energy supply,” Colombian Energy Minister Germán Arce commented. CAF’s environment and climate change director, Ligia Castro, said that the EU’s funding would help implement a “climate financing” mechanism in the Colombian energy sector and thus pass on benefits to other firms that generate renewable energy.
Colombia is a key partner for the European Union in Latin America and the mutual relations are based on political dialogue, trade cooperation and joint efforts to achieve sustainable development and support to peace building. The EU has been previously mostly engaged in the peace negotiations between the Colombian authorities and the Revolutionary Armed Forces of Colombia (FARC). In recognition of the importance of Colombia’s efforts to pursue peace, the EU even appointed, in November 2015, former Irish Foreign Minister Eamon Gilmore as her Special Envoy for the peace process in Colombia. The EU has also reconfirmed its support to peace building through the overall support package of almost €600 million.