At a Glance
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|Actual Budget (USD)||0|
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Colombia is a lower middle-income country with abundant natural resources and a growing population. In 2016, the Colombian government and the FARC rebel group reached a peace agreement that ended many decades of civil conflict, which the government expects will contribute to stronger economic prospects going forward. Still, many socioeconomic and political challenges remain, such as high levels of poverty, unemployment and underemployment, and rural energy access, among others.
Over the past several years, the Colombia government has passed a series of laws aimed at reducing GHG emissions, driving economic development, and providing increased energy access to rural areas. Law 1715/2014, known as the Renewable Energy Law, provides various incentives to encourage non-conventional renewable energy and energy efficiency investment. The Law focuses on RE integration into the electricity market and in non-interconnected zones (ZNI in Spanish). The Law establishes FENOGE as a financing vehicle to achieve these goals.
As established in Law 1753/2015, FENOGE will have an initial capitalization through a fractional tax per kWh on the wholesale energy market, called the Fondo de Apoyo Financiero para la Energización de las Zonas No Interconectadas (FAZNI) (English translation: Financial Support Fund for the Energization of Non-Interconnected Zones).
Building on 2015-2016 work
GGGI’s Country Planning Framework for Colombia identifies mainstreaming of green growth into national development policies and mobilizing sectoral green growth investments. In partnership with the National Planning Department (NPD), GGGI began the process of mainstreaming green growth into Colombia’s National Development Plan by supporting the inclusion of sector-specific green growth targets in the current National Development Plan 2014–2018, as well as following up on policies and investments to meet them. In 2016, GGGI supported NPD in the diagnosis and green growth potential assessment phase of a Green Growth Task Force, which brought together experts to assess priority issues and provide recommendations to be adopted in the Long-Term Green Growth policy during its formulation in 2017–2018.
The establishment of an National Financing Vehicle in Colombia for renewable energy and energy efficiency will lead to a significant reduction in GHG emissions, greater energy access in rural areas, and better quality of life for Colombia’s citizens. GGGI supported this by contributing to the following outputs:
- Finalize the decree that creates FENOGE as a legal entity;
- Finalize the FENOGE Operations Manual;
- Support the selection of the fiduciary agency that will administer FENOGE; and
- Prepare the FENOGE Business Plan.
News • July 31, 2020
¡INSCRIPCIONES ABIERTAS! FACILIDAD DE ASISTENCIA TÉCNICA PARA LA ESTRUCTURACIÓN DE PROYECTOS (PPTAF)
En el marco de la segunda fase del Programa de Crecimiento Verde con el Reino de Noruega y con el objetivo de movilizar recursos a proyectos que permitan un cambio en el paradigma, el control de la deforestación, el desarrollo social e inclusivo en las regiones, y que se alineen con las políticas a nivel […]
News • November 26, 2019
Colombia, November 7, 2019 – The Colombia Ministry of Environment and Sustainable Development (MADS for its acronym in Spanish), with support of GGGI, the embassy of the Kingdom of Norway in Colombia, and the Amazon Vision Program, held an event for exchanging “International Experiences in the Development and Implementation of National Forest Services” on November […]
News • June 14, 2018
Bogotá, June 14 – The President of the Republic of Colombia, Juan Manuel Santos, attended a high-level forum, showcasing the results and recommendations of the national Green Growth Taskforce. More than 400 high-level representatives of the government, the private sector, academia and civil society, participated in the forum that included the Taskforce’s presentation of the […]