Launch of a platform to accelerate electrification in the Andean region
The Foundation is joining forces with LatIMPACT to improve access to electricity by creating a network of partners
The Rexel Foundation is supporting the creation and launch of the LatIMPACT Platform, which aims to bring together project developers and financial supporters in Latin America. The goal is to provide Latin American populations with more reliable access to electricity by means of potential carbon investment and by sharing development strategies and sources of funding. This method aims to develop an action model that is innovative, tenable and repeatable in other regions suffering from a lack of access to electricity.
Objectives
- Improve inhabitants’ access to electricity.
- Bring project developers and financial supporters together in order to maximize initiatives and economic efficiency.
- Create a solid network of partners and recognized project certification using carbon schemes.
Context
Many Latin American regions are still suffering from unreliable or even nonexistent access to electricity. Innovative project developers are taking action to meet this challenge, but they need financial and logistical support, as well as en efficient economic model to avoid partial, short-lived initiatives. This is exactly what the LatIMPACT Platform aims to accomplish: bring all stakeholders together within the same structure: social entrepreneurs, financial supporters, third party evaluators, auditors, certifiers and public authorities.
Approach
The process involves building an evaluation and certification model that emphasizes the economic and environmental efficiency of the project, as well as its social dimension. This results in (1) creating a project portfolio in the Andean region, which LatIMPACT will promote among financial supporters or potential public sponsors, (2) training the actors in project evaluation and funding methods.
Expected results
Beyond the identification and implementation of projects to improve access to energy, this platform aims to develop an evaluation and certification model for energy access projects, as well as to create a portfolio of project developers in the Andean region (4 to 10 actors) and potential valid, aware financial supporters.
