M a r k e t N e w s

East Africa and CIF to spend US$50mn on clean energy projects

Posted on : Monday, 30th November 2015

 Rwanda, along with Climate Investment Funds (CIF), will work to provide access to electricity to around 70 per cent of its population by 2018

solarpanel bartspeelman flickrRwanda hopes to tap into a range of clean energy sources in order to supply power to its residents. 
The country is hoping to achieve this by tapping into a host of renewable energy sources, and bring up the access Rwandans have to electricity by 23 per cent from last year.
This initiative is expected to be possible through the CIF’s dedicated fund for Scaling Up Renewable Energy in Low Income Countries Program (SREP). The fund for the project will be around US$50mn and is expected to help develop financially sustainable long-term markets for the private sector provision of off-grid electricity services in the East African nation.
Robert Nyamvumba, director of the energy division from the Rwandan ministry of infrastructure said, “This endorsement will help to unleash the potential of the private sector to provide off-grid energy solutions using renewable energy sources. SREP funding will mean many Rwandans living in rural areas will have access to energy and improve their lives through development activities as well as create an enabling environment for businesses in the communities.”
Senior SREP coordinator Zhihong Zhang that the East African nation has an ambitious target of electrification through on-grid and off-grid solutions. The SREP will target the development of off-grid energy markets to help bring electricity to unserved communities in rural areas, create employment opportunities and generate income.
More than 1.5mn Rwandans are likely to benefit from this power initiative, said Zhang.

Source : africanreview.com
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