Added: Oct 03, 2023
Last edited: Dec 28, 2023
Uruguay’s Renewable Energy Innovation Fund (REIF), supported by the Joint SDG Fund and several UN agencies, aims to advance the country’s second energy transition (2ET). Uruguay now generates nearly all of its electricity from renewable sources. However, it is facing challenges in reducing its reliance on fossil fuels: to fully decarbonise its economy, it needs to transform the transport sector and progressively phase out other non-renewable energy uses within the industrial, residential and commercial sectors. With this in mind, the REIF is devoted to mobilising large-scale funding for innovative and emerging technology projects that facilitate the 2ET. Promoting the energy transition also presents a chance to speed up Uruguay's economic and social advancement, specifically gender equality and women's economic empowerment.