EDP launches clean energy access fund for developing countries
Energies de Portugal (EDP), a Sustainable Energy for All Delivery Partner, has announced the launch of an energy access fund that will allocate about €500,000 annually to promote renewable energy projects in developing countries.
The application process for the inaugural program is open from October 22 to November 25, 2018.
The fund invites organizations from around the world, both profit and non-profit, to help develop projects in Kenya, Tanzania, Mozambique and Malawi. The selection of these four countries reflects the Group’s strategy this year to prioritize investments in East Africa due to the region’s greater political stability and dynamic economic development.
The initiative is part of EDP’s announcement in May that it would provide €12 million under its long-standing access to energy (A2E) program over the next three years to promote universal access to sustainable energy in developing countries, with 200,000 people expected to benefit.
“Access to energy must be a concern and priority for all of us. As part of our energy access strategy, which aims to benefit more than 200,000 people over the next three years, we have launched an investment fund for renewable solution projects with a relevant impact in developing countries,” said EDP Group CEO António Mexia, who is also Chair of the Administrative Board of Sustainable Energy for All.
The A2E CSR Fund Program will focus on five areas in which energy plays a crucial role: education, health, water and agriculture, income generation and community projects. The projects will be selected according to criteria such as social impact, partnerships, sustainability, scalability, and the number of beneficiaries.
Funding for each project will range between €25,000 and €100,000, with the fund covering up to 75% of total project costs for non-profit entities and up to 50% of total project costs for for-profit entities.
The project selection process will be concluded on December 21, 2018. The allocation of the funds will be formalized in January and all the projects must be implemented during 2019.
EDP is committed to contributing to the achievement of the United Nations Sustainable Development Goals to help transform the way energy is produced, distributed and consumed. Access to energy is a necessary condition to break the poverty cycle and allow the social and economic development of remote rural areas.
Lisbon-based EDP is the world’s third largest electricity production company, providing electricity to 10 million customers in 14 countries on four continents, with almost 70% of its energy produced from renewable resources.
More information, including regulations and application forms, are available here.
Photo credit: EDP