COFIDES presents the funding options for energy projects at Expobiomasa

27/09/2017

Madrid, September, 26, 2017 - COFIDES director of Development Financing and European Management, Raúl Moreno today took part in an event at Expobioasa, within the framework of "Waste to Bioenergy Africa: Harnessing the Potential".

In this context, Moreno presented the various financial instruments that COFIDES has to support the deployment of energy projects in Africa. Thus, he emphasised that with COFIDES own resources and the funds it manages (FIEX and FONPYME), the Company has supported around 162 investment projects in Africa. Along with this, he pointed out that during the 1990-2016 period, COFIDES has contributed to generate more than 21,000 jobs in these countries.

The event was organised by the European Biomass Association (AEBIOM), in cooperation with the Africa-EU Renewable Energy Cooperation Program (RECP) and its objective was to focus on the potential of energy use of biomass subproducts and other waste products in Africa.

There, machinery suppliers, manufacturers, distributors and engineers were offered the perfect opportunity for any and all interested bioenergy stakeholders to learn the opportunities Africa’s abundant biomass resources can offer and to learn about experiences of companies that are operating on the African continent.

The day relied on the vision of the RECP and its Finance Catalyst, which encourages and supports cooperation projects between European and African bioenergy business partners, from planning through to financing. Representatives of national bioenergy associations also highlighted areas for growth and development in renewable sources within the private sector, which benefit local access to energy through the use of waste. European companies with working experience in Africa also took part to explain the areas ideal for joint ventures, showing their experience, success and possibilities for a possible cooperation.

COFIDES is a combined private-public concern, which since 1988 has provided financial support to Spanish enterprises abroad. COFIDES manages the FIEX and FONPYME funds on behalf of the State Secretariat for Trade, within The Ministry of Economy, Industry and Competitiveness. The stockholders include the Bank of Bilbao Vizcaya Argentaria (BBVA), Santander Bank, Popular Bank, Sabadell Bank and CAF (Development Bank of Latin America).
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