IDEAS – Energy Innovation Contest [NDF C58]

OBJECTIVE

The IDEAS Program finances pioneering initiatives that promote projects in the fields of renewable energy, energy efficiency and energy access in Latin America and the Caribbean region. Additionally, the Program aims to encourage and stimulate effective approaches to the region’s most pressing energy challenges and contribute to improving people’s lives by fostering skills and finding sustainable solutions that directly impact the living standards of the region.

The objective is to support innovative projects, promote research and development, and encourage introduction of new applied technology solutions in the field of renewable energy and energy efficiency with special focus on improving the energy access in rural areas.

IDEAS is a challenge fund where organisations in Latin America and the Caribbean are invited to present their project proposals related to renewable energy and energy efficiency. Based on set and publicised eligibility and evaluation criteria the most innovative and cost efficient project ideas are given an award for the implementation of the projects. IDEAS was first launched in 2009 and the NDF funds will be used in the fourth call for proposals. Over 1,800 applications from 28 Latin America and Caribbean countries have been received and 41 winners selected to date. IDEAS contest is open to all kinds of applicants, both organisations and individuals based in LAC countries which are members of IDB.

FINANCING

Total cost of the project is USD 1.0 million. NDF financing will be EUR 0.2 million (approx. USD 262,000), with USD 500,000 co-financing from IDB and the Government of South Korea and USD 270,000 from GDF Suez.

Project completed in December 2017. Actual disbursed amount EUR 167,658.00.

NDF CONTACT

info@ndf.int