Colombia has teamed up with the UK to transform its energy matrix: what will the changes be?

The agreement aims to benefit from the British experience in transitioning to clean energy – ProColumbia Credit

Colombia has taken a step towards strengthening its energy transition through an agreement signed with the United Kingdom.

This agreement, which was signed during a trade event in Westminster, London, seeks to enhance the exchange of knowledge and technology necessary to develop public policies and projects focused on clean energy.

This agreement, highlighted by Deputy Minister of Mines and Energy, Johanna Rocha, and British Ambassador to Colombia, George Hodgson, represents a joint effort to enhance investment and cooperation in the fight against climate change.

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Cooperation between the two countries will focus on exchanging British expertise in key sectors such as offshore wind energy, developing a hydrogen-based economy and exporting green hydrogen.. Ambassador Hodgson stressed that the aim is to “revive a very important pillar of working together” to care for the environment. This action plan for the next two years highlights the commitment of both countries regarding sustainability and renewable energy.

For his part, the Colombian Ambassador to the United Kingdom, Ruy Barreras, pointed out the importance of technology transfer for progress in strategic sectors of the energy transition. Barreras stressed that Colombia possesses the necessary natural resources and clean energy sources, while the United Kingdom contributes its valuable experience and knowledge. This exchange promises to promote the development of vital infrastructure in Colombia, such as electric mobility and the implementation of charging stations for electric vehicles.

Ruy Barreras highlighted the capabilities and tools that Colombia has for the energy transition – ProColombia Credit

“Clean energy must be generated, but electric vehicles are also needed, that is, the transition towards electric mobility and charging stations for these electric vehicles,” Barreras explained. And highlighting the shared future vision between the two governments. The UK's experience in these aspects will be crucial in jointly advancing these developments in Colombia, setting a precedent in international cooperation in environmental stewardship.

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This agreement not only strengthens Colombia's commitment to the environment and sustainable development, but also creates a solid base for attracting investments. By facilitating a “friendly climate” for the development of renewable energy projects, both countries benefit from cooperation that promotes sustainable economic growth. Innovation and reducing dependence on fossil fuels.

This agreement mainly focuses on developing projects that promote sustainable growth, starting with modern road infrastructure, To revitalize more ecological and efficient transportation systems, such as railways and the Dick Canal.

Colombian Finance Minister, Ricardo Bonilla, stressed the importance of this event for the country, noting that the Colombian delegation arrived in England with a strong group of initiatives seeking funding. Among the proposals, 5G roads stand out, which are ambitious projects aimed at redesigning the country's road infrastructure, restoring traditional means of transportation that ensure a lower environmental impact.

The main goal is to attract investments to Colombia and encourage green hydrogen production – ProColombia Credit

Bonilla said, “Before the signing, it was announced that Colombia hopes to attract investments at this meeting that may reach $10 billion.” Highlighting the scale of opportunity available to both Colombia and potential foreign investors.

From the British point of view, the opportunities offered by Colombian territory in terms of sustainable development and the facilities provided by mechanisms such as Export finance in the United Kingdom They are equally usable. This mechanism, which was explained by the official spokesman for the British government, It has a specific allocation to Colombia of £5.5 billion (about $7.3 billion), It aims to finance projects that can benefit from the British government's favorable interest rates.

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Hodgson explained, “The idea is to finance projects that can benefit from the interest rates enjoyed by the British government, which are an appropriate ratio,” highlighting mutual interest in developing profitable cooperation in various sectors.

In addition to promoting infrastructure growth and green projects, the agreement seeks to promote job creation and enhance Colombia's sustainable tourism sector. This was pointed out by a representative of ProColombia, who emphasized that this initiative represents not only a major injection of capital for the countryBut it also represents an open door to new business opportunities for Britons, who can see in Latin America a natural scenario for economic growth and environmental sustainability.

“This is not only an opportunity for the country to find multi-million-dollar resources for infrastructure development, clean energy, employment and sustainable tourism initiatives; This also applies to the British, who can find a natural growth scenario in Latin America, the representative said.

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