Air-e secures 1 trillion peso financing from China's CMC for energy infrastructure

Air-e has signed a framework financing agreement with the China National Machinery Exports and Imports Corporation (CMC) for up to 1 trillion Colombian pesos. The deal aims to fund strategic investments to improve the quality and continuity of electricity services in the Colombian departments of Atlántico, Magdalena, and La Guajira.

The financing terms include an annual effective interest rate of 5.2%, a 60-month term, and a grace period that allows payments to begin one year after the funded works are completed and operational. The funds are intended to address liquidity shortages and reactivate critical investments in substations and distribution and transmission networks, specifically targeting areas such as Barranquillita and Galapa in Atlántico, and Palermo and Bureche in Magdalena.

Jaime Mesa Buitrago, the special agent for Air-e, described the agreement as a “historical opportunity” to ensure the company's viability and reduce energy losses. Each project must be approved by a technical committee composed of three members from Air-e and two from CMC to evaluate feasibility and impact on tariffs before specific contracts are signed.