Uruguay has long been a global frontrunner in clean energy. A new strategic operation under the Renewable Energy Innovation Fund (REIF), implemented by UNIDO in collaboration with the Resident Coordinator’s Office, UN Women, UNDP, and national partners, is driving the country’s Second Energy Transition. At the heart of this effort lies an innovative partnership: REIF and Banco Santander have joined forces to finance Swapy, Uruguay’s first motorbike battery swap project.
A New Model for Urban Mobility
Swapy is redefining how electric mobility works for last-mile delivery services. Instead of waiting hours for batteries to charge, drivers simply swap a depleted one for a fully charged unit in under a minute. Powered by a Hardware as a Service (HaaS) model, the project operates on a subscription basis, giving users access to electric motorcycles and a network of easily accessible swapping stations. The result consists of greater autonomy, minimal downtime, and lower emissions.
The pilot phase is ambitious yet practical—60 electric motorcycles, 200 batteries, and six strategically located stations across key urban zones. Together, they form a scalable system designed to ensure operational continuity for delivery drivers while cutting carbon emissions and keeping operating costs competitive.
“The cultural shift our company seeks to drive is aligned with global ESG principles,” said Martín Piñeyro, Head and Co-Founder of Swapy. “The technical support from REIF has been key to strengthening our capacity and ensuring long-term sustainability.”
