Greenwood Energy, the Latin American renewable energy subsidiary of the Libra Group, and Confederación Indígena Tayrona (CIT), a Colombian-based Arhuaco people organization, have announced the launch of the Terra Initiative, a large-scale photovoltaic project in the Santa de Nevada Marta of Colombia. This original project was created in collaboration with the Arhuaco people and is designed to support the conservation and reforestation of the land that the International Union for Conservation of Nature describes as “the most irreplaceable nature reserve in the world”.
On Wednesday, April 6, 2022, Colombian President Iván Duque Márquez announced the project at an event attended by 600 Arhuaco people in the Nabusimake capital, along with Greenwood Energy. The Initiative is currently under construction and includes six large-scale solar installations providing 144 mega-watts of clean energy that will be sold to Colombia’s National Energy System. The Initiative will create jobs and develop green energy skills for the people of Arhuaco, as well as develop three villages with solar energy storage systems, sustainable farms, schools and health facilities.
In addition, for every kilowatt hour produced by solar plants, CIT will be paid and funds will be used to conserve the earth. During the life of the project, the people of Arhuaco will be able to protect 119,000 hectares of new land in the Sierra Nevada de Santa Marta – an area larger than New York, Berlin or Seoul. It will also compensate for CO2 emissions of more than one million tonnes.
“The project is a roadmap for the sustainable development and future of green energy in Latin America. Greenwood Energy is already a leader in clean technology, managing nearly 100 MW of photovoltaic building installations for public and private sector organizations, including “This initiative doubles our portfolio, but more importantly, it proves that solar and green energy can be used for greater social benefit,” said Guido Patrignani, CEO of Greenwood Energy. “Our hope is that Terra will act as a catalyst for other similar projects and demonstrate that Latin America has the opportunity to be identified and diversified through its support for green energy, which in addition protects our rich cultural traditions and ecosystems.” .
Integrity and transparency will be integral to the Initiative, such as the use of Blockchain technology to monitor and report on environmental impacts over the life of the project. In addition, after 25 years, ownership of the photovoltaic parks will be transferred to CIT, which will further support land protection efforts.
“This initiative is in line with the goals of the people of Arhuaco for the conservation, protection and care of nature, while also providing housing solutions and helping to facilitate education and the preservation of culture, while ensuring the coexistence of modern and indigenous life.” said Arhuaco Chief Noel Torres. “For the people of Arhuaco, growth is what guarantees life today and in the future. By using solar energy in a sustainable way, we prove that balance is possible and we set the bar for others.”
“As the world moves towards a clean energy future, it is vital that we rethink growth and lay the groundwork for long-term sustainability and a positive social impact. Renewable energy is one of our Group’s six key areas and reflects our commitment. “Today, our clean energy subsidiaries in Latin America, the US and Europe will soon reach one gigawatt, including solar and wind energy and waste energy,” said the President and CEO. Advisor of Libra Group, George Logothetis. “The commitment to sustainability and social well-being is at the core of our Group and we are looking for ways to build synergies and support the environment throughout our portfolio. We are proud that Greenwood Energy has been entrusted with the implementation of this critical project.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
