Jaime Mesa Buitrago, special agent of Air-e, stated on 2026-08-31 that the framework financing contract with China National Machinery Exports and Imports Corporation (CMC) for up to $1 billion does not generate an immediate debt obligation for the company. ^[1] Air-e interventor Jaime Mesa Buitrago warned that if El Niño intensifies, Colombia could face energy rationing not only in the Caribbean coast but potentially nationwide, affecting both electricity and water supplies. ^[2] Jaime Mesa Buitrago, the interim manager of Air-e, stated that the agreement is a mechanism to establish financing conditions rather than an immediate transfer of funds. ^[3] The Procurator General of the Nation questioned a funding agreement of up to one billion pesos between Air-e Intervenida and the Chinese company CMC. ^[4] Under the contract, the Chinese company will design projects with detailed budgets and execution timelines for technical committee approval before disbursements are made. ^[5] Air-e stated that payments under the financing scheme will begin one year after each funded infrastructure project is completed and becomes operational. ^[6] Jaime Mesa Buitrago explained on 2026-08-31 that the contract with CMC is a financing framework that establishes rules rather than a blank check or immediate transfer of funds. ^[7] The financing agreement with CMC includes a term of 60 months and an effective annual interest rate of 5.2%. ^[8] According to XM, the operator of the National Interconnected System, hydroelectric reservoirs closed July 2026 at 79.99% of their useful capacity, but water inflows have been below historical averages for four consecutive months. ^[9] As of August 13, 2026, the Colombian Institute of Hydrology, Meteorology and Environmental Studies (Ideam) indicated a probability superior to 90% that El Niño would persist until the first quarter of 2027. ^[10] Colombia's electricity generation relies heavily on hydroelectric resources, meaning prolonged periods of reduced water inflow to reservoirs directly reduce the country's ability to produce energy. ^[11] Jaime Mesa Buitrago indicated that if investments improve collection or reduce energy losses, the impact on user tariffs could be minimal or nonexistent. ^[12]