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MIF approves $2,250,000 to fund pilot renewable energy projects using three private sector-led business models in Brazil

The Multilateral Investment Fund today announced a $2,250,000 grant to Brazil to help develop private sector-led renewable energy pilot projects that demonstrate three different business models that show promise of delivering energy services to isolated rural communities.

The project aims to promote a greater number and type of market participants delivering renewable energy to communities and areas where energy services are scarce.

The three models to be developed are the following:

• NGO (nongovernment organization). This model relies on collaboration between private for-profit business ventures and NGOs that have social or environmental goals.

•Multicommodity. This business model builds on existing service networks in local communities, such as providers of water, liquified petroleum gas, diesel, television, telecommunications or beverages. The project would promote their expansion into the field of renewable energy for remote communities.

•Electricity Concessionaire/Permissionaire. The project would work with selected electric distribution companies to examine the feasibility of providing renewable energy services in lieu of grid extension in the short to medium term.

The project will be carried out by PRODEEM.* The Japan Special Fund, which is administered by the IDB, has provided the PRODEEM program with a $898,950 grant, and other international organizations are also backing the project

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