Government Secures 8.5 Million Euros for Solar Energy

0
659

In a move to increase access to off grid solar electricity in Uganda to top of the current hydro electricity the country produces, Government has secured a fund of 8.5 million USD (30.8billion shillings) from world bank money which aimed at boosting the supply of solar power products in the country. According to James Byagaba the vice chairman board of Uganda energy credit capitalization company the implementing body the fund is going to be put in banks for solar companies that provide pay as you go pay plan model to be able to borrow with a low interest rate of 12%.