EPM CLIMATE ACTION I - ENERGY DISTRIBUTION

Promoter – Financial Intermediary

CARIBEMAR DE LA COSTA SAS ESP

Location

• Colombia

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