Renewable Energy Day at the Central American Energy Congress 2020

The Central American Energy Congress – CORENA 2020 was organised by the Salvadorian Industrial Association (ASI), with the International Renewable Energy Agency (IRENA) as a strategic partner of the event. IRENA coordinated the organisation of the Renewable Energy Day in the framework of the congress that took place on 14 October during the morning sessions and comprised of 3 sessions.

The Opening Session focused on Reaching Zero with Renewables in Industry and Transport Sector as well as Clean Energy Corridor for Central America – CECCA. IRENA has produced a comprehensive study of deep decarbonisation options, focused on reaching zero into time to fulfil the Paris Agreement and hold the line on rising global temperatures. Reaching Zero with Renewables explores the reduction needed to eliminate energy-related and industrial process carbon dioxide emissions. IRENA developed the Clean Energy Corridor for Central America - CECCA initiative in 2015 to support the accelerated deployment of renewables at the regional level in Central America, and in the context of the SIEPAC line that interconnects Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica and Panama.

Session 1 on NDCs and the energy transition in Latin America explored the revision process of the NDCs that countries need to communicate to UNFCCC in 2020, elaborating on:

• Raising ambition of the climate pledges. Energy-related NDCs enhancement and implementation;
Opportunities for NDC enhancement and update process.
• 2020 NDCs submission. Lessons learnt and good practices in the region;
• NDCs and the post-COVID 19 recovery plans.

Session 2 on Financing of Renewables in Central America examined the investment needed in Central America for a faster deployment of Renewable Energy technologies and the obstacles faced by investors, further elaborating on:

• Obstacles faced by international investors when considering Central America as a destination for infrastructure investments, as well as the challenges faced by governments to access finance for developing RE projects in the region.
• The Climate Investment Platform initiative, its partners, scope, on the ground activities, and its implementation through the Investment Forums.
• Innovative financing solutions to develop Renewable Energy projects, such as green and blue bonds.

This was a closed event and attendance was by invitation only.