CMI and the value of creativity in project design, contracts and energy marketing

The effects continue after the event «Moving towards a new energy model»organized by CMI energy and its marketer ION Energy.

there, Sean Portermanager of the development department, new business and business department CMI energygave an exclusive interview to Strategic energy where he shed light on how the company has evolved and how it has embraced creativity as a driving force in project design, contracts and energy marketing.

Increased competition in the region would require an innovative approach in forecasting, diversifying technologies and ensuring reliable energy from alternative energy sources. This involves thinking creatively about the structure of contracts, the role of marketers, considering regulated sectors and meeting the needs of the industry, all while striving to offer an environmentally friendly, cost-effective and predictable product.

«I think you should strive to add creativity to everything you do. So, when we’re forming the portfolio and we think about what technology, what locations, and when I say which locations I don’t just mean which country, it’s how close you are to a substation, what the demand is, who could be served by power from that place. So when designing and developing projects, it’s not easy to think about where the energy is going to end up (…) if you don’t get creative, you’ll be left behind,» he said. Sean Porter.

The continuous development of the market would also require a refinement of the energy offer provided to buyers. Porter noted that creativity is a key part of his role as VP of Development, New Business and Business. CMI energy. From choosing strategic locations to choosing techniques, creativity is infused in every stage of the process.

A long-term vision and a willingness to wait years for a project to mature or to be able to accelerate its implementation by using different marketing options would be examples of this creative mindset.

Porter emphasized that creativity is needed today to execute renewable energy projects, as the «take or pay» contracts that were the norm five or ten years ago are becoming less common and alternatives need to be explored.

«We have to move from a situation where there was low hanging fruit or low mango, take or pay projects that could be had at a good price because there was very little interest in investing in the area, to the current situation where there is a lot of interest «, noticed Sean Porter.

And he gave an example: «The PEG-4 offering was four or five times oversubscribed, a lot of participation.» Today there are ways to do that. So we have to get creative on the buying and selling side.»

Regarding the growth of CMI energy through the years, Porter pointed out that the company has taken a remarkable transformation since the company, in the beginning, was conceived as a business unit in Multi Investment Corporation (CMI) to meet the energy needs of the company’s own industrial processes.

Thus it continued with projects for its own consumption, taking another step by taking projects for its customers until it has opened up to the market and become the undisputed leader in the region, with more than a thousand megawatts developed.

Among the important milestones in this growth, Porter mentioned the establishment of the hydroelectric power plants which stabilized the industrial demand of the group for many years. He also noted the pioneering role CMI energy in the region with the development of the first wind farm of its kind in Latin America, SRL Wind Plant (PESA) in Tilarán, Costa Rica. But he also emphasized that the company has matured in the financial sector, always trying to apply creativity in its decisions that lead it to become a pioneer in Central America in the issuance of a green bond of 700 million dollars in international markets, a milestone that marked a before and after.

«This is not a ‘cookie-cutter’ way of financing projects. «You have to think about different ways of doing things, and to meet the demand, you also have to be creative to continue promoting these renewable projects for the benefit of the end customers’ systems.»

Access full statements of Sean Portermanager of the development department, new business and business department CMI energy in the video of the full interview on the YouTube channel Strategic energySelected media partner of the event «Moving towards a new energy model».