PRESS RELEASE : Eight projects seek funding in the second phase of the Climate Finance Accelerator in Peru [March 2023]

The press release issued by the Foreign Office on 28 March 2023.

Eight innovative projects that contribute to climate change mitigation have been selected to participate in the second phase of the Climate Finance Accelerator.

The program, funded by the Government of the United Kingdom, will support the selected projects to strengthen their proposals and attract investment from Peruvian and international financiers.

The projects in this second CFA cohort come from a variety of sectors including waste management, energy, sustainable agriculture, among others. For example, some of them aim to implement solar panel boats for river traffic in the Amazon, responsible waste management in the construction sector, regeneration of used clays, among others.

A key barrier to climate action is the limited supply of projects capable of attracting the financing and investment needed to implement large-scale solutions. Projects will receive

The technical assistance provided focuses on identifying their financial needs such as the combination of financing from public and private sources, structuring their bankable financial model and presentation materials.

The advice also seeks to improve the business model in areas like gender inclusion and social equality. Once funded, the projects will benefit communities throughout Peru through pollution reduction, employment opportunities, energy access, water conservation, and support for gender equality and social inclusion efforts.

UK Ambassador to Peru, Gavin Cook, stated:

I’m delighted to join these eight exciting projects at the start of their CFA Peru journey. Their innovative ideas and approaches really showcase how the private sector is helping to tackle the climate emergency in Peru and we’re excited to partner.

The CFA’s technical and financial experts will help them develop to get the investment that will drive not just their projects, but wider social impact. The lessons we learn will also help the Peruvian government and private sector generate capital flows for the future. I can’t wait to hear how they get on.

By bringing together stakeholders who can develop and finance climate projects at scale, the CFA will support Peru’s efforts to meet the priorities set out in its Nationally Determined Contribution under the Paris Agreement.

The project is led in Peru by Libélula. Program leader in Peru, Katherine Bocanegra, Libelula’s Head of Projects added:

The CFA Program is a great opportunity to continue building the portfolio of sustainable and bankable projects that reduce carbon emissions in Peru. We are very excited about the results we will obtain at the end of this second phase, the projects are increasingly promising and we will do everything we can to help them access the financing they need.

The eight projects selected for this second phase are:

1. QUIASA Consulting SRL: Quiasa Consulting is a company that develops solutions in the oil sector with the objective of expanding the regeneration system of activated clays used in the edible oil industry, by the boil off method, for its reuse and also to obtain the residual oil by-product, which will be used as raw material for the Peruvian biofuel market.
2. RONAP: Digital connectivity in real time to promote initiatives that raise the value of the forest, linking consumers, with a commitment to climate change, in order to make them participants in the conservation and recovery of forests, strengthening the relationship of producers/gatherers, their families and context with the biodiversity of the Amazonian ecosystems.
3. Cartonorte EIRL: Replacing wooden crates from the indiscriminate felling of trees with biodegradable recyclable cardboard boxes for the transport of fruit harvested in the central jungle.
4. Kara Solar Foundation: A consortium to promote solar-powered river transportation. Kara Solar, the Ecuador-Peru Binational Plan and the Conservation Strategy Fund seek to massify this transportation and energy model in the Peruvian Amazon to promote sustainable development and create a concrete response to deforestation. We will focus on the implementation of technology, training, and financial tools.
5. SINBA: sinba is a socio-environmental company and Certified B Company founded in Lima, Peru in 2016, whose purpose is to co-create a #waste-free world, where nothing is left over and no one is left over. We recover organic waste and turn it into animal feed and fertilizers, in addition to recovering recyclable materials. Through the circular economy we reduce GHG emissions from waste by 90%, in addition to providing low-carbon raw materials for local industries.
6. CICLO: We increase the sustainability indicators of companies in the construction sector with 2 lines of business: the integrated management of construction waste (CDW) and the sale of eco-materials that we manufacture from the recycling of this waste.
7. Cooperativa Agraria Cafetalera Alto Mayo: The project consists of using coffee waste (Cascarilla) for the production and commercialization of organic fertilizers and coffee briquettes; as well as processing and commercializing soluble coffee with a new brand, located in the provinces of Moyobamba (San Martín and Jaén (Cajamarca).
8. Bioenergy Perú SAC: Bioenergy seeks financing to increase its production capacity (CAPEX) by increasing its monthly production capacity from 2,500 MT to 4,000 MT through the acquisition of equipment, as well as the increase of working capital to acquire larger volumes of raw material.