EDP opens applications to support & finance just energy transition projects in Latin America
Applications for the 2nd edition of the Hope Fund are now open. This funding and incubation programme is aimed at social entrepreneurs with projects focused on a just energy transition. Funding may reach 1.5 million euros and interested organisations can apply until 30 March 2025.
ARE Member EDP has just launched the 2nd edition of the Hope Fund, a financing and incubation programme aimed at organisations with innovative solutions that address social issues in the context of the energy transition and that are implemented in Portugal, Spain and Latin American countries.
The programme includes incubation, acceleration and financial support phases for social entrepreneurs, helping them to improve and grow their innovative solutions. Mentoring is also a phase of this programme, with the support of specialised mentors who will work with some of the candidates to help them move forward with their projects. Projects will be evaluated and chosen based on their innovation, impact, scalability and sustainability.
“At EDP, we are committed to a fair energy transition and to supporting projects that generate a positive impact on communities. The 2nd edition of the Hope Fund reflects this commitment, by promoting innovative solutions aligned with our mission. The success of the first edition, where we are supporting initiatives such as the distribution of electric cookers to reduce the use of biomass and the creation of professional opportunities in the renewable energy sector for young people at risk of social exclusion, reinforces the importance of programmes like this in advancing the energy transition”, commented Vera Pinto Pereira, executive board member at EDP.
In this edition, the finalists will each have the opportunity to receive up to 500,000 EUR in funding. Organisations interested in applying for the fund can do so through the Bridge for Billions platform, from this link, until 30 March.
Applicants must submit a solution that addresses one or more of the following topics: Provide energy efficiency and access to clean, reliable, safe and affordable energy to underserved communities and/or disadvantaged people; promote training and reskilling for energy transition industries with affordable tuition fee models; and to foster the preservation and restoration of forests and biodiversity, generating a positive social impact, especially in needy areas.
For this programme, EDP once again relies on partners Ashoka, a global organisation that specialises in identifying and supporting social entrepreneurs and Bridge for Billions, an online platform that provides tools, resources and mentoring for entrepreneurs in the early stages of growth.
In the 1st edition of the Hope Fund launched in June last year, EDP received more than 150 applications, having selected more than 10 projects for mentoring and two for funding: Clean Cooking Technologies, dedicated to fighting climate change through innovative technologies, such as a smart induction cooker, with a positive impact on health and the environment; and Generamés, a non-profit association that employs young people at risk of exclusion in the renewable energy sector, while promoting the energy transition.
The Hope Fund is part of EDP Y.E.S. – You Empower Society, the company’s global social impact strategy, which involves an investment of €300 million by 2030 to support more than 500 social responsibility projects in various locations.
To learn more about this project see the link here.
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