17
Funded projects
5.5
MMREIF investment
30
MMCatalyzed investment
114.385
tCO₂Estimated GHG emissions avoided
The program
Second transition
Uruguay's energy
The Renewable Energy Innovation Fund seeks to support the second energy transition. Uruguay's second energy transition by transitioning to low-carbon technologies in the industrial, transportation, commercial and residential sectors, ensuring universal access to renewable energy, and stimulating innovation and competitiveness in the country. It is a financing window that combines private capital and United Nations funds to boost energy transition projects, together with a technical assistance mechanism to help companies validate technologies, business models and impact measurement.
The program relies on the energy transition as a driver to accelerate Uruguay's economic and social development, contributing to improve environmental sustainability and promoting social and gender inclusion, increasing access to energy for vulnerable groups by improving connections and the participation of women in the economy.
Areas of Action
REIF is composed of four areas of action.
REIF Trust to provide loans to companies
A financial instrument that combines funds from the United Nations and private banks to support companies through flexible loans adapted to the challenges of carrying out innovative and sustainable investments.
Technical assistance to complement loans
Support to companies to measure and enhance the economic, social and environmental impact of their investment projects, as well as to conduct feasibility studies and validation of technologies and business models.
Regulatory strengthening and capacity building
Actions to remove barriers to the deployment of new technologies, through regulatory adaptation, dissemination of knowledge and capacity building in the institutions that drive this transformation.
Knowledge Development and Technology Transfer
A space for the generation of knowledge for national companies and related institutions, promoting international cooperation, the exchange of experiences and technology transfer.
Technologies for the second energy transition
REIF focuses on activating large-scale financing for new and emerging technology projects that drive the second energy transition around 4 technology verticals:
Energy storage and demand management
Technologies aimed at improving imbalances between renewable energy supply and energy demand, and replacing fossil fuels by improving system efficiency. Includes behind-the-meter (BTM) storage technologies such as batteries and heat pumps.
Power to X
Technologies aimed at transforming electrical energy into other types of energy with storage capacity. Includes technologies that use electricity for heat generation (Power to heat) such as electric boilers or direct heating equipment (furnaces, dryers, heaters) and technologies that use electricity for hydrogen generation (Power to hydrogen).
Waste management and treatment technologies
Technologies to address the challenges of waste treatment and management. Includes technologies for battery recycling and management, biogas generation for thermal uses, combustion of organic waste as boiler fuel (e.g. rumen).
Electric Mobility
Technologies and infrastructure for electric mobility. Includes electric buses, light-duty electric vehicles, electric utility vehicles, electric passenger vehicles, as well as the development of charging facilities for electric mobility.
Impact
The drive for energy transition is also an opportunity to accelerate Uruguay's economic and social development.
Investments channeled through REIF improve the country's environmental sustainability by reducing carbon emissions and promote social and gender inclusion by promoting improvements in access to clean and safe energy throughout the country, the incorporation of standards, good practices and gender equality principles in companies.
THE 2030 AGENDA FOR SUSTAINABLE DEVELOPMENT
REIF is a driver to accelerate the country's compliance with the UN 2030 Agenda for Sustainable Development. It will have an impact on the following Sustainable Development Goals. Sustainable Development Goals:
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