The following is a machine translation of a Ministry of Hydrocarbons and Energy release
The Vice Ministry of Electricity and Renewable Energies and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) of Germany signed a cooperation agreement for an amount of 5 million euros (€), non-reimbursable funds, destined for the implementation of the project “Strengthening the energy transition in Bolivia (ProTransición)”.
“It is an opportune moment to redirect our efforts towards new horizons in the sustainable management of our energies. I extend my gratitude to the German cooperation for allowing us to share innovative experiences and build together a better future, a green future,” said Omar Paredes, Deputy Minister of Electricity and Renewable Energies, at the event.
For his part, the ambassador of the Federal Republic of Germany in Bolivia, José Schulz, pointed out that this project, implemented by GIZ in close coordination with the Vice Ministry of Electricity and Renewable Energies, reflects the solid alliance between the governments, and the commitment of both countries to the transition towards cleaner and more sustainable energy sources.
The agreement, which will be valid from July 2024 to June 2027, is an initiative that continues the 2022 Technical Cooperation Agreement signed between the Government of Bolivia and the Federal Republic of Germany on June 14. This project seeks to create the financial, organizational and technical conditions necessary to promote the use of renewable energy, foster energy efficiency and promote electric mobility in Bolivia.
With a comprehensive approach, the project aims to contribute to the fulfillment of Bolivia’s Nationally Determined Contribution (NDC) in the energy sector. Its main lines of action include the development of a regulatory framework and sustainable financial mechanisms to ensure the long-term viability of energy initiatives.
It also includes the modernization of the operation of the electrical grid, incorporating cutting-edge technology that allows for more efficient management, the promotion of energy efficiency in the public sector, optimizing energy consumption in state institutions and the promotion of electric mobility in urban public transport, in order to reduce dependence on fossil fuels and decrease carbon emissions.
The agreement signed between MHE and GIZ will allow preliminary project activities to begin while the details of the final Project Agreement are being worked out. This document reflects the shared interest of both nations in moving towards a more sustainable energy economy, in line with global climate change mitigation objectives.