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IRENA & IDB Commit $300,000 To Six Renewable Energy Projects In Latin America And The Caribbean

The International Renewable Energy Agency and the Inter-American Development Bank have committed $300,000 to help develop six renewable energy projects across Latin America and the Caribbean.

Announced on Thursday, the International Renewable Energy Agency (IRENA) and the Inter-American Development Bank’s (IDB) Sustainable Energy Marketplace for Latin America and the Caribbean have announced they will provide a $300,000 technical assistance award to six separate renewable energy projects set to be developed across Latin America and the Caribbean.

The six projects are:

Project title Lead proponent Country
Distributed Solar Photovoltaic Generation with Storage Secretaria de Estado de la Energia de la Provincia de Santa Fe  Argentina
Photovoltaic systems in 104 educational institutions in the subregion of Sanquianga Gobernación de Nariño Colombia
Wind power in La Cañada Vientos de La Cañada S.A. de C.V. El Salvador
Scaling up energy access solar microgrids EarthSpark International Haiti
Grensa Honduras Grensa Green Energy Honduras Honduras
Carbon Management Plan Secretaría de Medio Ambiente y Desarrollo Territorial, Jalisco Mexico

“The Sustainable Energy Marketplace supports projects at different stages of development,” said Henning Wuester, Director of IRENA’s Knowledge, Policy and Finance Centre. “Through the project development support and the work with IDB, this platform will create a bigger, more liquid market for renewable energy projects that will eventually improve access to sustainable and reliable energy in a financially sustainable manner.”

The six projects were selected from a total of 76 proposals from 16 different IDB member states, through careful evaluation, thanks to the Sustainable Energy Marketplace — a virtual platform developed by IRENA that is intended to help developers and investors connect. The Marketplace aims to support the channeling of public and private finance to meet the growing need for renewable energy and energy efficiency financing.

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