The demand in Colombia for green bonds to help mitigate long-term environmental risks has been growing. Since 2017 to date, green bond issues have reached $302 million. Green bonds are debt securities in which the funds are used exclusively to finance or refinance, in part or in full, eligible Green Projects and that are aligned with the Green Bond Principles (GBP) with in order to help mitigate environmental risk on long-term investments. Colombia accounts for 5% of green bond issuance in Latin America, as of 2019, after Brazil, Mexico and Chile.
Bbva Fiduciaria announced the launch of the Páramo Fund, with which it seeks to contribute directly to the conservation of the moorlands in Colombia. It will allocate 25% of the collection by its administration commissions of this fund to the preservation of these ecosystems in the country. "Our goal is to reach more than $41 million in managed assets in the first year, which will allow us to contribute significantly to this initiative to preserve the moorlands," explained Mauricio Wandurraga, manager General of Bbva Fiduciaria.
Parque Solar Bayunca 1 is capable of generating more than 7,1 GWh per year, enough energy to meet the needs of about 4 thousand homes. It was inagurated yesterday after an initial investment of $5 million. It is a private initiative developed by the firms Egal (from Cartagena) and Promoenercol (Bogotá), built over 6.5 hectares and with 9,810 imported solar panels installed.
Colombian President Iván Duque announced a new auction of renewable energies that will create 32,000 jobs and draw more than $ 6,000 million in investment, in order to continue advancing in the transition in the country´s energy matrix from traditional to unconventional sources. The government´s goal is to go from 50 to 2,500 megawatts of installed capacity in solar and wind energy. By 2022, Colombia is to achieve 14% of the energy matrix in renewable sources.
Colombian highway authority Invías launched an $24mn tender to carry out maintenance on 451km of roads in Boyacá, Cundinamarca, Santander, Norte de Santander and Cesar departments.
Barranquilla will have the first integrated structure for sports, entertainment and business events in Latin America. Two Way Stadiums and UMUSIC Hotels presented the innovative multifunctional complex called Arena del Río. This $407 investment project will have a capacity for 53,000 spectators. Arena del Río will have the only roofed structure in Latin America, with a retractable mobile lawn to convert the space on a large stage for shows. It will also house a five-star hotel, 100 luxury apartments, 395 boxes, television, film, music and content production studios, three independent auditoriums, a museum, a business club and a marina and four ports for cruise ships and nautical sports. Its representatives assure that it will have an investment impact on the area of$1.25 billion and will generate 9,040 direct jobs.The construction will occupy 31 hectares with a structure of 336,934 square meters.