Govt to finance solar distribution

Government launches 8.5 million dollars working capital to facilitate the solar companies in the country enabling them to expand solar energy to the rural communities.

Launching the facility at hotel Africana the Ag. Director Energy Resource development James Banabe Isingoma notes that energy is a key sector that needs to be developed for economic empowerment of Ugandans.

He adds that rural areas are still off grid hence lagging behind. Its against this background that government has decided to facilitate solar companies to enable them stock enough solar systems to be purchased at affordable installments .

Meanwhile the Managing Director Uganda Energy Credit Capitalization Company (UECCC) Specioza Kimera Ndagire noted that solar companies have been lacking capital to stock solar system and make them affordable for the rural people.

She adds that government has recognized that there several barriers preventing the steady growth of renewable energy resources development and utilization hence the need for financial support to bridge the gap.

Ndagire explains that internationally certified solar companies that were vetted by the government will be in position to access the funds to ensure that quality standards are maintained when purchasing solar systems and accountability.

According to Uganda Energy Credit Capitalization Company (UECCC) this revolving fund will be accessed from five local financial institutions that include Centenary bank, Stanbic, Barclays, Finance Trust and Post bank.

Story by

Eva Namugabi

February 19 2018