Dar es Salaam, Tanzania, October 15, 2015—
IFC, a member of the World Bank Group, this week launched a $5 million
program to increase access to energy in Tanzania by developing a market
for mini-grids. The initiative aims to bring affordable, off-grid
renewable energy to households and businesses in rural Tanzania.
IFC
will work with project developers in Tanzania to promote commercially
viable mini-grid business models, and will advise banks and financial
institutions on how to extend long term finance to mini-grid developers.
Tanzania
has been selected as one of the first countries to test the concept of
using small-scale renewable energy production sources under a new
program, called the Scaling-up Renewable Energy in Low Income Countries
Program. In Tanzania, it aims to help diversify energy production away
from fossil fuel based sources.
Mini-grids
are technically and commercially viable for high-density populations
that live outside the reach of the national electricity grid. The
Tanzanian government estimates that about half of the country’s rural
population could be served by off-grid options in a cost-effective
manner. Mini-grids could provide access to electricity for 9.1 million
people in Tanzania.
Lutengano
Mwakahesya, Director General of Tanzania’s Rural Energy Agency said,
“We have an urgent task ahead of us to increase energy access in
Tanzania. Mini-grids are a key part of the solution, so this program
with IFC is an essential step to improve the quality of life of
households, demonstrating the role of the private sector.”
Tanzania’s
Ministry of Energy and Minerals was closely involved in developing the
mini grids program, and was represented at the event by the Assistant
Commissioner, Mr. Edward Ishengoma.
Dan
Kasirye, IFC’s Resident Representative for Tanzania, said “IFC aims to
help develop a robust mini-grid market in Tanzania, which will create
investment opportunities in the renewables sector and help fill the
country’s energy gap. We plan to mobilize the financial resources and
expertise of the private sector to expand energy services to low-income
communities.”
IFC,
a leader in renewable energy finance, helps developing countries
transition to a low carbon future. Over the past three years, IFC has
financed close to $3.5 billion in renewable energy projects worldwide,
including biomass, geothermal, hydro, solar, and wind.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity.
No comments:
Post a Comment