Peru relaunches program offering interest-free financing for natural gas vehicle conversions

Peru's Ministry of Energy and Mines (Minem) has revitalized the "Ahorro GNV" program, offering interest-free financing to encourage vehicle owners to convert their cars to run on natural gas. The initiative, relaunched in Piura, aims to significantly lower fuel expenses for drivers and promote a cleaner energy alternative.

Targeted at taxi drivers, bus operators, truck owners, mototaxi drivers, and private vehicle owners, the program provides financing without requiring an initial down payment or charging interest. The repayment structure is designed to be gradual, with loan amounts being paid back through natural gas refills. This allows users to start saving on fuel costs immediately while progressively settling the conversion debt.

The financing amounts vary based on vehicle type: up to S/6,800 for light vehicles, S/2,500 for three-wheeled vehicles (trimotos), and up to S/200,000 for heavy-duty cargo vehicles. These figures are intended to make the transition to compressed natural gas (CNG) accessible across different transport sectors without imposing additional financial burdens on users.

According to the Energy and Social Inclusion Fund (FISE), the program has already facilitated more than 174,000 vehicle conversions across Peru, with 2,849 conversions occurring in the Piura region alone. Piura currently has five CNG refueling stations, and four more are slated to open soon, which will further enhance access to the fuel for interested drivers and transporters.

By adopting natural gas, vehicle owners can achieve savings of up to 60% on their fuel expenditures. Additionally, the shift to GNV contributes to reducing polluting emissions, aligning with environmental sustainability goals. The program's relaunch in Piura saw participation from Minem and FISE authorities, underscoring the government's commitment to promoting cleaner and more economical transportation solutions.