The Inter-American Development Bank Group (IDB Group) announced today the Power Transmission Acceleration Platform (PTAP), a new regional effort to help countries in Latin America and the Caribbean (LAC) expand and modernize their energy grids and close the infrastructure gap.
The announcement followed a bilateral meeting between IDB Group President Ilan Goldfajn and State Secretary Jochen Flasbarth of Germany's Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety.
During the meeting, German authorities announced their intention to contribute up to 15 million euros (around 17,3 million US dollars) through the International Climate Initiative to support PTAP's implementation, including 3 million euros (around 3,5 million US dollars) to directly support the 16 countries participating in the Renewables in Latin America and the Caribbean (RELAC) initiative – focused on reaching at least 80 percent renewable electricity by 2030.
"Energy security in Latin America and the Caribbean depends on more than generation – it depends on having a reliable and resilient transmission grid," said Goldfajn. "With Germany’s support, PTAP will help countries strengthen transmission, unlock investment, and build more resilient energy systems. The IDB Group is acting as a bridge – connecting national priorities with global capital," he added.
"Grids are the backbone of the global energy transition, they are essential for achieving the target of tripling renewable energy capacity by 2030. Germany, together with key partners, has prepared a 'grids package' for COP30 and our collaboration with IDB is part of that. As a longstanding partner of Latin America and the Caribbean, Germany is honored to contribute to PTAP and welcomes the RELAC declaration on grids. PTAP and the declaration both support the transition towards resilient, decarbonized energy systems, provide opportunities for the private sector and enhance regional cooperation," said State Secretary Jochen Flasbarth of Germany's Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety
PTAP is a regional platform that supports countries in modernizing and expanding their power grids by improving planning, permitting, regulation, and investment frameworks. It is designed to crowd in private capital, reduce project delays, and connect more renewable energy to the grid.
PTAP, which will be formally presented to partner governments and international institutions on November 15 at COP30, will be accompanied by three other key announcements:
- The Belém Declaration on Grids, endorsed by RELAC member countries, committing to accelerate transmission and storage;
- The “Unlocking the Grid” flagship report, outlining how to close the transmission investment gap—projected to require tripling annual investment by 2035;
- And the IDB Group’s support of the Climate Finance Principles for Green Grids, launched by the Green Grids Initiative at COP30.
Over the past decade, the IDB Group has financed over one billion US dollars in transmission projects and supported regulatory reforms across the region. PTAP now adds dedicated capacity to convert plans into bankable projects – linking national energy priorities to regional public goods and global climate goals. Germany's announcement reinforces a broader partnership with the IDB Group under IKI, which has delivered over 135 million euros (around 156,4 million US dollars) in support for climate and nature programs across Latin America and the Caribbean since 2016. Recent initiatives include investments and refoms in fiscal policy, biodiversity, water security, and green finance, as well as the IKI-LAC Climate Private Sector Mobilisation Fund with IDB Invest, a 46 million euros fund (around 53,3 million US dollars), announced earlier this year, which focus is to support and mobilize private sector investment in climate mitigation projects aimed at reducing greenhouse gas emissions in LAC.