Cornucopia hybrid finance for renewable energy in agriculture
To demonstrate the value of renewable energy financing as a significant new tool for rural economic development, by using solar water pumps, solar dryers, and biodigestors to help farmers produce high-value products for local and national markets.
- Provide international renewable energy financing to supplement local financial support for small farmers in João Pessoa, Brazil through the REEEP-supported Energy Millennium Development Goal Financing Facility (E-MDG-F), thus creating a hybrid of two standard financing models.
- Finance RE technologies that can add value: micro-irrigation, solar pumps and storage systems, biodigestors for organic fertilizer and biogas production, and solar dryers for fruits and herbs
- Conduct studies to establish preferences for production and basic sales projections for each product
- Hold education and training programme in the communities covering agricultural, RE and commercial training. Participants become trainers themselves.
- Highlight results of the project in a Gates Foundation sponsored international expert meeting at the end of 2009.
- Positioning of renewable energy as a major economic development tool amongst multilateral (Inter-American Development Bank), national (PRONAF), philanthropic (Gates and Rockefeller Foundations), and local rural development programmes.
- Replication of the hybrid finance tool in Mozambique through the Private Advisory Financing Network, whose establishment in Mozambique is also being financed by REEEP.
- Creation of associated commercial value chains, creating opportunities for farmers and for women entrepreneurs.