Uruguay’s Renewable Energy Innovation Fund: A Model for Inclusive Transition

Uruguay is leading Latin America’s second energy transition, and the Renewable Energy Innovation Fund (REIF) is at the heart of this transformation. Under the strategic leadership of the UN Resident Coordinator and implemented by UNIDO, UNDP, and UN Women, with support from the UN Joint SDG Fund, REIF mobilizes blended finance to accelerate the shift toward sustainable mobility and energy-efficient technologies. From electric buses and motorbikes to heat pumps and energy storage systems, the Fund is helping decarbonize transport, reduce emissions, and make clean energy solutions more accessible for businesses and communities across the country.

What sets REIF apart is its strong focus on inclusive, gender-responsive climate action. In collaboration with national banks and private sector partners, REIF offers tailored technical assistance and financial incentives to ensure that women and underserved groups are active participants in the energy transition. Whether enabling a logistics company to electrify its fleet or supporting women-led projects in the energy sector, REIF demonstrates how climate finance—when guided by equity—can drive systemic change and a more sustainable future for all.