Partnership expands model for access to renewable energy for critical facilities
A strategic multi-sector alliance between the Global Energy Alliance for People and the Planet (GEAPP), the Puerto Rico Community Foundation (FCPR, in Spanish), and Banco Popular de Puerto Rico (BPPR) will expand the Community Energy Resilience Initiative (CERI) to support approximately 75 critical facilities — businesses and nonprofits — in Puerto Rico with renewable energy access, helping them become energy resilient during emergencies.
The evaluation process for this initiative begins on Oct. 1, and interested parties can call 787-721-1037 for more information.
CERI provides critical facilities with financial capital to acquire solar and energy storage systems, ensuring continuity of essential services during and after emergencies.
The hybrid financing model includes a combination of grants and loans for businesses, and a mix of grants, donations and loans for nonprofit organizations. For businesses, the grant covers up to 20% of the costs, while nonprofits can receive up to 20% through grants and up to 40% through donations.
The project is supported by $5 million in grants from GEAPP, with BPPR and the Mellon Foundation contributing an additional $450,000 in donations for nonprofits. Funding will also come from BPPR’s financing.
“This initiative that we have been supporting is an excellent example of collaboration between several institutions committed to increasing energy resilience in Puerto Rico,” said Isabelle Beltrán, GEEAP’s general director for Latin America and the Caribbean.
“The innovative definition of critical facilities, as well as hybrid financing, will be success factors that I hope will contribute to expanding the program in Puerto Rico but also serve as a model for other countries,” she added.
Critical facilities, defined as those providing essential services such as social support, communication, food, infrastructure, health and transportation, the new release says, play a vital role in communities, especially during emergencies. Government-owned facilities, however, are excluded from the initiative.
“Hybrid financing makes it possible for these entities to access these systems, since it reduces the cost they would have to pay if they did not have these subsidies — and donations in the case of nonprofit organizations,” said Mary Ann Gabino, vice president of FCPR.
“This strategic alliance demonstrates the potential that exists in pooling resources. It also demonstrates the importance of generating creative and multi-sector solutions to solve social problems. We are very excited and grateful for this opportunity that not only does justice to our communities, but also shows other ways in which the [nonprofit] sector can gain access to funds,” added Gabino.
Launched as a pilot in 2020, CERI began with five critical facilities in Arecibo, Patillas, Utuado, Juncos, and Jayuya, ranging from a bakery to an organization serving children and youth. Now, the initiative plans to expand to 75 facilities over two years.
The financing model used by CERI includes four stages, from initial referral to the installation of energy systems.
