EcoBazar, a green consumer technology service and commercial platform developed by Gaia, was recognized in Green Latin America Prizes competition.
Gaia’s EcoBazar service and commercial platform, targeted mainly to the Bolivian market and Bolivians in Spain, recently participated in the Green Latin America Prizes, an annual competition that evaluates environmentally sustainable projects in the region. EcoBazar was regarded the best service in Bolivia in the Emissions category, and the second best in Bolivia in the Energy category. Approximately 500 projects signed up for the competition.
Renewable energy solutions for Bolivian homes
Many South American countries have considerable potential and increasing political will to promote investments in renewable energy and energy efficiency, and these fields offer great potential for sustainable growth. However, not many ventures have so far been commercialised on a grand scale, and consumer-oriented commercial platforms are few or weak.
With the support of Nordic Climate Facility, Gaia developed EcoBazar, a service that offers Bolivian consumers and businesses sustainable environmental technology, installation services and competitive financing. Launched in 2014, Ecobazar brings together technology providers, financing institutions and sales networks.
EcoBazar is an innovative business model that offers Bolivian emigrants living for example in Spain a chance to channel part of their remittances to purchasing renewable energy solutions, like solar water heaters, for their families in Bolivia. Solutions like solar water heaters make the everyday life of the recipients easier and safer. EcoBazar’s money transfer options ensure secure payments, and installation is included in the service.
EcoBazar is run as a business partnership between Gaia, several financial institutions and Bolivian partners.