The Community Equity Opportunity Fund (CEOF) is a blended-finance facility that helps local communities invest in renewable energy projects across Latin America. With instruments across project phases from development, construction, to operations; CEOF supports projects from start to finish. It de-risks private investment, boosts community ownership, and ensures locals benefit directly from the energy transition, making projects stronger and more sustainable.

In Latin America and the Caribbean (LAC), rising energy demand and abundant renewable resources present a significant opportunity to accelerate the region’s energy transition. Much of the highest-quality generation potential lies in rural and Indigenous territories, where partnerships can unlock shared value and deliver lasting benefits. By fostering meaningful collaboration between developers and communities, the region can enable inclusive participation, strengthen local economies, and de-risk project implementation. The CEOF supports this approach by combining tailored financing with technical assistance to build trust, align incentives, and unlock commercially viable renewable energy projects that benefit both local stakeholders and investors.

The CEOF introduces tailored financing structures for utility-scale renewable energy projects in LAC, enabling community equity ownership from the earliest stages of development. Its flexible approach allows for follow-up investments as projects evolve, ensuring both financial viability and sustained community participation. By addressing barriers such as limited access to capital, technical capacity, and inclusive investment models, the CEOF unlocks high-potential sites and transforms them into investable opportunities. Targeting six to eight projects of 15 to 100 megawatts, it aims to deliver market-rate returns while strengthening local economies and empowering rural and Indigenous stakeholders.

The CEOF will support mid-sized renewable energy projects of 15–100 MW in Argentina and Colombia, focusing on solar and wind. Initial projects include the 18 MW ANTÚ solar initiative with the Millaqueo Mapuche community and a 20 MW solar PV project in northern Argentina, with additional opportunities in Colombia’s La Guajira, Meta, Huila, Antioquia, and Cauca. To operationalize the Fund, Meliquina is targeting USD 35–40 million in capitalization, supported by commercial and concessional equity, a grant-based technical assistance facility, and a fund management partnership.

CEOF is designed to embed community ownership in renewable energy projects by financing the special purpose vehicles (SPVs) that hold equity stakes. During the development stage, CEOF provides milestone-based loans covering a substantial share of costs, while commercial partners and communities contribute the rest, securing proportional equity in the SPV. At financial close, these loans are refinanced through construction financing, with CEOF also providing catalytic equity alongside external investors. To safeguard long-term ownership, CEOF enables communities to complete a leveraged buyout of its equity stake a few years post-COD, supported by external credit guarantees that make capital affordable. This design mirrors conventional project finance structures while embedding a co-ownership mechanism that aligns incentives across developers, investors, and communities.

Beyond financing, CEOF includes a technical assistance facility to strengthen equity partnerships through transparent agreements, skill-building for employment and services, and mechanisms such as local shareholding structures.

Implemented through a partnership between Meliquina and a fund manager, CEOF integrates inclusive project development, governance, and technical expertise to deliver financial returns and long-term community benefits.