The Latest Milestone in Sustainable Urban Transport in LatAm

As Latin American cities work to address air quality challenges, rising urban populations, and decarbonization goals, the electrification of public transportation has emerged as one of the region's most effective tools for reducing emissions while improving the daily commuting experience for millions of residents. Transport remains a major contributor to global energy-related emissions, and organizations such as the International Energy Agency (IEA) and UNEP have identified public transit electrification as a critical pathway toward lower-carbon urban mobility.

Latin America has rapidly become a global leader in this transition. In August 2026, C40 Cities reported that more than 10,000 electric buses were operating across 80 cities in 13 countries throughout the region, helping avoid an estimated 10 million metric tons of CO₂ emissions annually. Bogotá in Colombia, alongside Santiago in Chile and São Paulo in Brazil, is among the leading cities driving this transformation.

Scaling electric mobility across Latin America

ZEmobility has played an important role in the advancement of sustainable mobility solutions across Latin America. Today, the company is a market-leading platform managing a fleet of over 5,000 buses. It is ready to enhance its scale, operational capabilities, and position to support the region’s growing transition toward low-emission public transportation. This strategic development builds upon a strong track record of investment and execution, including the financing of 176 electric buses and associated charging infrastructure for deployment within Bogotá’s integrated public transportation system, TransMilenio.

The project, known as Viking II, will comprise 90 zonal buses and 86 Bus Rapid Transit vehicles. It replaces conventional diesel-powered vehicles with zero-tailpipe-emission alternatives. The investment forms part of a broader agreement between ZEmobility and Consorcio Express to introduce up to 1,056 electric buses in the near future, further accelerating the city's transition toward more sustainable and more resilient urban mobility.  

An integrated financing solution

Societe Generale acted as Mandated Lead Arranger, Lender and Hedging Bank on the USD 67.5 million Green Loan financing, delivering an integrated solution that combines project financing, risk management expertise, and a USD/COP cross-currency swap designed to mitigate foreign exchange risk and align the project’s financing structure with its local currency cash flows.

“ZEmobility has become one of the most important platforms advancing sustainable public transportation across Latin America, and we are proud to continue supporting its growth,” said Eugenio Veiga, Export Finance Banker at Societe Generale. “This financing reflects Societe Generale’s continued commitment to backing projects that deliver tangible environmental benefits, strengthen urban mobility, and contribute meaningfully to the region’s energy transition.”

A long-standing partnership  

It also builds on a long-standing relationship between Societe Generale and ZEmobility as the Bank continues to playing a key role in developing and scaling electric mobility platforms throughout the region. Over the past five years, Societe Generale has helped finance more than 2,000 electric buses. 
Through these transactions, Societe Generale has established itself as a leading partner for sponsors, operators and investors seeking innovative funding solutions that support sustainable transportation infrastructure in the region. 

“We have been pioneers in the Chilean and Colombian markets and the eMobility expertise we have developed there is now being considered in other countries such as Brazil and Mexico which can have an important social impact,” said Luis Sainz, who heads client coverage for the Americas for Societe Generale.

“At Societe Generale, supporting the energy transition is a core pillar of our strategy and a key focus of our activities across Latin America,” said Fabricio Miranda, Director at Societe Generale Chile. “We are committed to partnering with our clients as they advance their sustainability ambitions, providing tailored financing and risk management solutions that enable the development of their projects. Financing the transition to a more sustainable economy is central to our business, and we are proud to support investments that deliver long-term environmental and social benefits across the region.”