| Project Detail |
The Electribús Bogotá project (the "Project") seeks to finance the purchase of 13 50-passenger electric buses and 246 80-passenger electric buses, which will be put into operation in the Integrated Public Transport System (IPTS) of the city of Bogotá in Colombia. For this purpose, the Ashmore Andean Fund II, Fondo Ashmore Andino II, Somos Provisión SAS (the "Sponsors") have formed the Electribús Bogotá Usme I SAS, and Electribús Bogotá Fontibón II SAS (the "Concessionaires"), companies that have been awarded 15-year concession contracts that include the purchase and delivery of 133 and 126 buses, respectively. The buses purchased under this concession will be subsequently delivered to Empresa de Transporte del Tercer Milenio SA (TMSA), administrator of Bogotas mass transit system.
The Project comprises only the purchase and supply of the fleet of electric buses by the Concessionaires to TMSA and does not include its operation or maintenance, as these tasks will be the responsibility of the Operation and Maintenance Concessionaires. Within this framework, the Concessionaires will be responsible for the purchase, supervision, and disengagement of the electric buses after the 15-year period, while the Operation and Maintenance Concessionaires (beyond the scope of this Operation) will be in charge of operating and maintaining the new fleet, and operating the parking and maintenance lots. For this purpose, a Private Agreement has been signed between each Concessionaire and the respective Operation and Maintenance Concessionaire, to regulate maintenance tasks, maintain the fleet enabled, and keep the factory guarantee of the units to be acquired in force.
To enable the purchase of the vehicles, the Concessionaires have signed a Purchase Contract with BYD, a company that is actively present in the Colombian vehicle market, particularly in the public transport system. To date, BYD has 64 electric buses operating in the city of Medellín since November 2019.
The Project will contribute to improving mobility in the city of Bogotá, while the introduction of a cleaner means of transport will help reduce emissions and air pollution. Once the purchase and commissioning of the vehicles is complete, Bogotá will become the city with the largest fleet of electric buses on the continent.[1]
The total estimated cost of the Project is approximately 290,000 million Colombian Pesos ("COP"). This amount will be financed through a loan from the IDB Group, of which Proparco will guarantee 50% of the investment, a revolving loan to finance batteries from the United Kingdom Sustainable Infrastructure Program (UK SIP) Mixed Financing Fund administered by the IDB Group, the participation of Financiera de Desarrollo Nacional (FDN) and capital contributions from the sponsors of the Ashmore Andean Fund II Project, Ashmore Fondo Andino II, and Sistemas Operativos Móviles S.A. |
