IIC Program Helps Bolivian Companies Identify 210 GWh in Annual Energy Savings
Audits and workshop in collaboration with leading Korean energy management agency boost energy efficiency across Bolivia
Santa Cruz, Bolivia, July 23, 2014 — The Inter-American Investment Corporation (IIC) and Korea Energy Management Corporation (KEMCO) trained Bolivian enterprises on how to save energy, reduce costs, and help combat climate change. The training workshop completes a series of energy audits that will help six local companies slash their combined energy bill by 30%, leading to 210 GWh in energy savings per year.
The six high energy consuming companies from Cochabamba, La Paz, and Santa Cruz received detailed energy audits from KEMCO assessing their savings potential. Their positive feedback led to a follow-up workshop with KEMCO experts discussing lessons learned from the audits and sharing practical advice on becoming more energy efficient and eco-friendly with both the audited companies and members of their supply chains.
Cesar Campoverde, Manufacturing Manager with vegetable oil producer Aceite Fino, noted that “Aceite Fino was able to identify areas for improvement during the energy audit with KEMCO. We expect to save more energy, to improve demand-side energy management and be more energy efficient.”
Youngro Han, Executive Director of KEMCO and project leader, noted: “Through this collaboration, we have identified several opportunities for the six Bolivian companies to save and use energy more efficiently, leading to combined energy savings of 30% annually (210 GWh). Our experience shows that GREENPYME Bolivia can be a stepping stone to increasing energy efficiency among Bolivian enterprises, encouraging them to invest in measures to address the challenges identified by our audits. We also hope to expand our partnership with the IIC to other countries in the region to help even more companies tackle energy efficiency.”
The workshop and audits were provided as part of the IIC’s advisory and training services promoting energy efficiency under the GREENPYME program. Since its inception in 2008, GREENPYME has supported close to 1,200 SMEs in Latin America and the Caribbean.
The IIC launched the program in Bolivia in 2012 with the support of the Nordic Development Fund (NDF), and has carried out energy audits with 70 companies to date. A further ten companies will complete their audits through NDF funding.
To expand the reach of the program, the IIC partnered with KEMCO in 2012. Eight Bolivian engineers were trained by KEMCO in May 2014, harnessing Korean expertise to raise Bolivia’s profile on energy efficiency. The GREENPYME program with KEMCO in Bolivia receives financial support from the Korea-IIC SME Development Trust Fund.
About the IIC
The IIC, a member of the Inter-American Development Bank (IDB) Group, promotes private-sector development in Latin America and the Caribbean with a focus on small and medium-sized enterprises (SMEs). We help companies streamline management processes and provide them with financing in the form of equity investments, loans, and guarantees, as well as innovative technical assistance, advisory services, and knowledge products. In 2013, the IIC approved 71 operations totaling US$415.4 million. Since its inception in 1989, the IIC has approved more than 800 direct loans to SMEs and financial intermediaries, for a total of US$5.21 billion. An additional US$3.01 billion has been mobilized through cofinancing and syndication agreements. For more information on IIC activities, visit www.iic.org.
Contact: Paula Urbano
Telephone: +1 (202) 623-2075