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RG-L1166 : Innovasol - Facilitating Access to Green Energy

Project Status: Implementation

The objective of the project is to reduce greenhouse gas emissions associated with electricity generation and energy consumption. Its purpose is to expand the services of InnovaSol, an investment vehicle created to promote the use of photovoltaic renewable energies. InnovaSol's business model consists of leasing solar panels to private companies and organizations (eg. hospitals, educational centers, shopping centers, etc.) with long-term contracts, a solution that will allow these companies / organizations to access the benefits of solar energy use without the need to make an initial investment. InnovaSol offers to its clients commercial plans that mitigate the technological and operational risks associated with the adoption of solar panels. The project will contribute to the diversification and transformation of the energy matrix of the countries in which it operates, which not only has the potential to favor the environment, but also creates economic and social opportunities from the perspective of generating green jobs.

Project Detail

Project Number
RG-L1166
Approval date
December 15, 2022
Project Country
Regional
Project Sector
ENVIRONMENT AND NATURAL DISASTERS
Project Subsector
CLIMATE CHANGE FINANCING
Project Type
Loan Operation
Project Lending Type
NSG
Project Modality
Project Facility Type
Project Status
Implementation
Operation Number
5724/MS-RG

Financial Information

Project Number
RG-L1166
Project Status
Implementation

IDB Financing

Financing type
PSL
Fund
MIF-Small Enterprise Investment Fund
Reporting currency
USD - United States Dollar
Reporting date
Jun/02/2023

Roles & Responsibilities

Project Information

Total Cost
USD 2,250,000
Country counterpart financing
USD 1,500,000
Amount
USD 750,000

Preparation

Title
Type
Project Number
Date Published

Approved

Title
Type
Project Number
Date Published
Donors Memorandum
RG-L1166
February 22, 2023
Donors Memorandum
RG-L1166
February 22, 2023