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Canada’s Total Climate Finance Contribution:
$6,480,000 CAD
- 2011 to 2012: $6,480,000 CAD
Targeted Countries:
Mexico
Funding Period: 2011 to 2012
Type of Support:
Mitigation
Delivery Partner(s):
Description
The Canadian Climate Fund for the Private Sector in the Americas (C2F) at the Inter-American Development Bank (IDB) provided support for one of the first municipal lighting retrofits developed under an energy savings performance structure in both Mexico and all of Latin America and the Caribbean. This support will enable Optima Energía, a Mexican energy service company (ESCO), to install 25,000 high efficiency light-emitting diode (LED) luminaires for the Municipality of Ensenada, replacing older, less-efficient technology. The LED technology will boost the quality of light in the streets and contribute to improved public safety in Ensenada, the third largest city in the state of Baja California. This project demonstrates a highly innovative financing approach within the Mexican regulatory environment that can be replicated in municipalities throughout Mexico.
Results/Expected Outcomes
The expected intermediate outcomes of this project include replacing 25,000 luminaires with high-efficiency technology. This will save an equivalent capacity of 3.5 megawatts (MW) of energy and abate an estimated 7,400 tons of CO2 each year. In addition, the project is expected to generate cost savings to the municipality in the form of a 59 percent reduction in electricity expenses and establish proof of concept for an innovative but unproven business model.The project also supports gender inclusivity through the implementation of an internship program with layered incentives for different gender outcomes, with an expected four to eight female science, technology, engineering and mathematics (STEM) undergraduates in the first year.
Co-Financing/Mobilized Finance ($CAD):
$16,100,000
Estimated GHG (metric tons of CO₂) Reduction Associated with Project (per year)Disclaimer *:
7,400