· $50 million to catalyse private sector’s investment in off-grid energy solutions.
· To increase electricity access in the country by about 19 percent.
· The fund will allow a section of SACCOs, commercial and micro-finance institutions provide affordable loans to their clients to purchase certified solar systems.
· Off-grid solutions will particularly target rural areas that have the least access to energy.
The intervention comes barely a month after local players in the renewable energy sector under their umbrella body, Energy Private Developers, had come out seeking to finance to help meet national targets.
