Completes consultancy on the design of FOREECA

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Completes consultancy on the design of FOREECA

Thanks to the initiative of OLADE it was designed the model of the Regional Energy Efficiency Fund for the Member Countries of the Central American Integration System (SICA) – FOREECA. The consultancy concluded in June, thanks to Canadian cooperation, the Mexican Agency for International Cooperation for Development (AMEXCID), the Central American Bank for Economic Integration (CABEI), and the Mexican Electricity Savings Trust (FIDE). The goal of FOREECA will be to support the technical management and financing of energy efficiency projects in the Region.

Representatives from 8 countries, Government’s stakeholders, Energy Directors, Ministers and Vice Ministers of SICA Member Countries (Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and the Dominican Republic participated in the workshops).

This design integrates international best practices in the operation and creation of funds for the Promotion of Energy Efficiency, as well as the best practices on business modeling, together with the needs and points of view of the participating countries. The FOREECA design includes five components: Business Model, Governance Model, Process Model, Rules of Operation and Financial Engineering.

For the development of the FOREECA’s design, a number of variables were considered: the size of the economy of the region, the level of technological development, the level of knowledge and culture in energy efficiency, the impacts of climate change and all the maturity of public policies in the energy sector.

Taking into account the characteristics of the design developed by FIDE, the next phase of implementation will correspond to the joint effort of several relevant stakeholders in climate finance, and support to the sustainable energy development of the region.