EDP ​​opens applications to support and finance energy transition projects up to 1.5 million

EDP ​​has opened applications for the 2nd edition of the Hope Fund, a financing and incubation program aimed at organizations with innovative solutions that address social issues in the context of the energy transition and that are implemented in Portugal, Spain and Latin American countries.

Funding could reach 1.5 million euros, and interested organizations can apply until March 30th.

The program includes phases of incubation, acceleration and financial support for social entrepreneurs, helping them to improve and grow their innovative solutions. EDP explains that mentoring is also a phase of this program, with the support of specialized mentors who will work with some of the candidates to help them move forward with their projects.

Projects will be evaluated and chosen based on their innovation, impact, scalability and sustainability.

Vera Pinto Pereira, EDP’s executive director, highlights the commitment “to a fair energy transition and to supporting projects that generate a positive impact on communities. The 2nd edition of the Hope Fund reflects this commitment, by promoting innovative solutions aligned with our mission”.

“The success of the first edition, where we are supporting initiatives such as the distribution of electric stoves to reduce the use of biomass and the creation of professional opportunities in the renewable energy sector for young people at risk of social exclusion, reinforces the importance of programs like this in advancing the energy transition,” he commented.

In this edition, the finalists will have the opportunity to each receive up to 500 thousand euros in funding.

“Organizations interested in applying for the fund can do so through the Bridge for Billions platform, using this link, until March 30th. Applicants must present a solution that addresses one or more of the following themes: providing energy efficiency and access to clean, reliable, safe and affordable energy to underserved communities and/or disadvantaged people; promoting training and retraining for energy transition industries with affordable tuition models; and fostering the preservation and restoration of forests and biodiversity, generating a positive social impact, especially in deprived areas”, details EDP.

For this program, EDP once again counts on its partners Ashoka, a global organization that specializes in identifying and supporting social entrepreneurs, and Bridge for Billions, an online platform that provides tools, resources and mentoring for entrepreneurs in the early stages of growth.

In the 1st edition of the Hope Fund launched in June last year, EDP received more than 150 applications, having selected more than 10 projects for mentoring and two for financing

.The Hope Fund is part of EDP YES – You Empower Society, the company's global social impact strategy, which involves an investment of 300 million euros until 2030 to support more than 500 social responsibility projects in various locations.