Green investments for all in Uruguay with thanks to Interamerican Development Bank-Invest initiative
Uruguay sets the bar for the energy transition in the region. It grew its wind power capacity from 1% to 31% of its electricity mix in just one decade. Before the rise of renewables, Uruguay largely obtained its electricity from hydroelectric dams, fossil fuels and imports from neighboring countries. By building the Valentines wind-farm with the support of Interamerican Development Bank- Invest, it was able to transform its energy supply. When the construction needed more investments, it proposed a unique solution inviting citizens to participate as minority shareholders. This solution was made possible by Redpagos, an extensive network for paying and collecting money with 400 locations throughout the country.