Recent announcements by CELAC and the European Union reaffirm a shared vision of a just energy transition, a key starting point for understanding what Colombian renewable energy developers must do to access new international funding expected to open soon.
In this context, financial consultant Jorge Sierra Almanza explains that European financing is oriented toward initiatives with full traceability, measurable social impact, and governance criteria similar to those required by multilateral development banks—setting a clear direction for developers aiming to secure these resources.
“These funds are not intended for traditional projects, but for those with clear traceability, proven social impact, and technical viability in remote or non-interconnected areas,” he told Energía Estratégica.
This opens a new market segment for developers: small-scale, transparent projects with a documented social footprint. However, it also implies stricter requirements in terms of technical compliance, environmental standards and governance.
In Colombia, these types of funds are aimed especially at rural, off-grid or poorly served regions, where access to electricity remains a challenge. Prioritising these territories not only addresses a historical gap but also helps turn the energy transition into a process of social inclusion and local development.
Departments such as Chocó, La Guajira and Putumayo could benefit from projects combining distributed generation, community participation and local employment, as long as the initiatives demonstrate technical viability and transparency from early stages.
Colombian developers will need to anticipate the requirements of cooperation programs, particularly in distributed solar PV, small-scale wind power, energy communities and microgrids, where social and technical conditions are more favourable for meeting new international standards.
The consultant recommends that companies meet all technical requirements and minimise risks before calls for proposals open, “because the financing will be substantial and subject to strict criteria.”
Early preparation includes securing agreements with local communities, documenting impacts, and structuring projects that are technically and economically viable. Those who arrive with these elements in place will be better positioned before European and multilateral funds.
Investing in infrastructure to multiply impact
The recent partnership between the Community of Latin American and Caribbean States (CELAC) and the European Union, along with participation from the European Investment Bank (EIB Global) and other multilateral institutions, is reshaping the map of opportunities for renewable energy development in Colombia.
The country is entering a stage where international capital is seeking projects with integrated social, environmental and economic impact. However, Sierra Almanza stressed the role of the Colombian Government, noting that efficiency in the use of new funds will be crucial, and suggested allocating them to incentivise private-sector investment.
If applied this way, the impact could “increase tenfold,” as the State would act more as a facilitator than a direct executor. As an example, he pointed to China, where grid expansion generated high returns because infrastructure attracted new market investments and opened opportunities for additional generation.
He also noted that Colombia’s first- and second-tier banks should assume a more active role in channelling these resources, through co-financing schemes and guarantees that help mobilise private capital toward community-based and small-scale renewable projects.
Rising international interest confirms Colombia’s potential as a strategic destination for renewable energy investment. “This is an opportunity for Colombia to consolidate a sustainable energy development model in which every dollar invested not only generates megawatts, but also development, equity and resilience,” Sierra Almanza concluded.
