Contributing to the decarbonization efforts of the economy of its founding partner country Costa Rica, the Central American Bank for Economic Integration (CABEI) approved a non-reimbursable technical cooperation for US$150,000 to carry out the necessary studies to determine the feasibility of producing biomethane.
Biomethane is an alternative fuel with characteristics similar to those of natural gas, it offers cost advantages and environmental impact, and it is produced through the anaerobic digestion of agricultural residues, therefore, as part of the first stage of the cooperation, specialized consultancies that will comprehensively assess the supply and availability of residues from pineapple production that allow the establishment of production processes through processing and bio-digestion.
Supporting the country’s efforts in the transition to cleaner forms of transportation
“This technical assistance comes to support the country’s efforts in the transition to cleaner forms of transportation, biomethane would drastically change the state of development and contribution of biofuels in Costa Rica, contributing to its energy policy, reducing the emission of greenhouse gases effect, and supporting the strengthening of productive chains in the agricultural sector, which is undoubtedly in line with our objective of being the Green Bank of Central America and its main ally to materialize this type of effort”, highlighted the executive president of CABEI, Dr. Dante Mossi.
If the first stage is successful, the cooperation also contemplates a second stage that would include the assessment of production cost scenarios, economic viability, and the assessment of business models, among others, with which it is expected to provide accurate and truthful information for decision-making, support for the development of “pilot” management plans for new chains of gaseous biofuels, and with the necessary management of the roadmap that allows potentially involved actors to identify and work together.
This initiative is part of the activities of the Fund for the Preparation of Investment Projects in Climate Change (FCC) and the transversal axis of Environmental Sustainability of CABEI that addresses the challenges facing the region due to climate change. The results are expected to be ready 24 months after starting the consultancy.