The Inter-American Development Bank (IDB) announced that PowerMundo, a Colorado-based international social enterprise, was selected as one of 10 winners of 563 applicants in the latest IDEAS Energy Innovation Contest, an initiative to promote innovative solutions to energy problems, benefit communities, create jobs and expand access to renewable energy in Latin America and the Caribbean. The IDB chose PowerMundo’s proposal entitled, “Digital Diesel: Pay As You Go Financing for Solar Energy in Rural Peru”. PowerMundo has partnered with Colorado-based diviPower to develop and scale this program in Latin America. PowerMundo will receive $100,000, technical and business development support, as well as access to other experts, policy makers, institutions and potential financial partners to implement and scale up its innovative ideas.

For more information click the link to read the full announcement, visit PowerMundo’s website, and email us at info@powermundo.com.

This IDB award complements PowerMundo’s existing support from the U.S. State Department’s Energy and Climate Partnership of the Americas (ECPA) program and the Renewable Energy & Energy Efficiency Partnership (REEEP).

PowerMundo looks forward to expanding our positive impact with current and new partners to increase access to energy in Latin America.