The Ministry of Energy and Mines (MEM) of Peru has launched yesterday an invitation the citizens to participate in the program for the financing of vehicle conversions to natural gas with resources from the Social Energy Inclusion Fund (FISE). The program estimates initially to encourage the conversion of 15.000 vehicles per year in the regions of Lima, Callao, Ica, Lambayeque, Piura, Ancash, La Libertad, Junín, Cajamarca, Arequipa, Moquegua and Tacna.
The owners of vehicles belonging to category M1 (light duty four wheel passenger cars) may be eligible for the program. Vehicles have to be less up to 10 years old and have approved the technical pre-inspection in a vehicle conversion workshop authorized by the Ministry of Transport and Communications (MTC).
The payments will be established according to the schedule issued by the financial institution with a maximum term of up to 5 years, applying an interest rate of 3%, much lower than the market rate which ranges from 14% to 40%.
In this way, the MEM seeks to massively increase the use of natural gas at the national level in a progressive way, so that it is accessible to the population and promotes clean energies.
Source MEM Peru