ImpactInves,ngOpportuni,esinthePhilippines:RenewableEnergy,Cooling,andFisheryManagement

Rare&TheMeloyFund:Rareisaninterna*onalconserva*onNGO

workingtopromotesustainablebehaviors

inruralcommuni*eswithapar*cularfocus

onfisheries,freshwater,andagriculture.

Establishedin2016,TheMeloyFundisthe

impactinves,ngini,a,veofRare,targe*nginterven*onsinsmall-scale

fisheriesinthePhilippinesandIndonesia.

TheMeloyFundpursuesatripleboComline:social,environmental,andfinancial.

ProjectBackground:RareapproachedMITSloanwiththegoalof

exploringinvestmentsinbusinesssolu*ons

andtechnologiesthatwouldreducewasteintheFilipinofisheries,withapar*cularfocus

onusingcleanenergysuchasPVsolar.Rare

wasalsointerestedinthestandalone

economicsofcleanenergyprojects.

Methodology:Throughprimaryinterviewsandacademic,

professional,andgovernmentalresearch

sources,weexploredtheBusinessEnvironment,EnergyEnvironmentandRegula,ons,andFisheryValueChaintoiden*fypoten*alleveragepointsand

investmentopportuni*esinDistributedSolarBusinesses,Fishery-LevelCoolingInterven,ons,andGridScaleSolarDevelopments.

KeyFindings&Outputs:Inaddi*ontoabroadlandscapeanalysis,wedevelopedaninvestmentframeworkwithcriteriaspanningfinancialreturn,impact,andriskwiththeflexibilitytochangeweigh*ngs

accordingtoinvestorpreference.WeexpectRaretousethistocompareandpriori,zeamongvariousinvestments.WealsomodeledthefinancialreturnofaonemegawaRsolar

project(>26%IRR)andinves*gatedkeyleveragepointsrelatedtoenvironmentalimpact:we

foundtheenergyrequiredtoproduceicewassmallcomparedtotheenergyusedinother

partsofthevaluechain.

ScoRKeto,LisaKhanna,DoraAldama,CatherineWright