After nearly two years of work on a project that began in November 2020, the multi-country program E-Motion: E-Mobility and Low Carbon Transportation, led by the Development Bank of Latin America – CAF, was approved by the Green Climate Fund (GCF) this October 2022. And as part of the consulting services in project development assistance, strategy, policy, strategy, and regulatory support, Hinicio, together with Greenwerk, an advisory firm for climate finance and climate policy, advised on the formulation and design of this program.
With the aim of moving towards sustainable mobility in Paraguay, Panama, and Uruguay, this project seeks to strengthen the e-mobility ecosystem. By incorporating the financing of large-scale e-bus fleets, light electric commercial vehicles (public and private), and fast-charging infrastructure, E-Motion will help mitigate GHG emissions in these three countries – which have high renewable energy participation – through a clean, safe, reliable, and sustainable transportation system.
The program will have four components to be implemented over the next six years. The first will focus on strengthening regulatory frameworks and capacities, and the other three on financing the vehicle fleet and infrastructure. Pilar Henriquez, Mobility and Strategy Manager at Hinicio Chile and leader of this project, states that “The program will help bridge the gap between small-scale pilot projects and high-impact projects, accelerate the adoption of electric mobility in the region, and generate a mass deployment of electric vehicles, making a direct impact in reducing GHG emissions in Panama, Paraguay, and Uruguay”.
This project will not only promote innovation in business models by reducing costs and scaling up sustainable mobility at the regional level but will also help these three countries lay the foundations for decarbonizing the sector, promoting new markets and value chains related to electric vehicles, batteries, charging infrastructure, improving air quality, developing new local capacity buildings, and connecting cities and communities in a more sustainable way.
Although Hinicio had already participated in sustainable mobility projects in Latin America and Europe, this program marks a milestone in its experience to continue working and strengthening this ecosystem at a regional level through consultancy in strategic project design and implementation.
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