The European Union has launched the Sustainable Energy Markets Acceleration (SEMA) project to promote the use of renewable energy in Uganda. The project aims to educate the public about the importance of renewable energy and increase the share of renewable energy in the total energy mix in Uganda.
“This project is intended to stimulate private sector investment and popularise the use of such energies [renewable] among Ugandans for a green economy,” said Dr Roberto Ridolfi, the EU delegation to Uganda. “Our motive is to make these energies cheaper and accessible.”
“The project works in tripartite arrangements with renewable energy entrepreneurs and financial institutions with a shared objective of increasing access to affordable and sustainable renewable energy in rural areas,” reads the EU press statement issued earlier this week.
The EU has signed the Memorandum of Understanding with five renewable energy companies, namely Kirchner Solar Uganda Limited, Incafex Solar Systems Ltd, Moset Investments Ltd, Solar Energy Distributors, and NACO Solar Ltd., to work on this project.
The project spans four years and is already being implemented in Kenya with plans to extend in Tanzania as well. With the total project cost of about €850,000, the project is jointly funded by the European Union and Hivos People Unlimited, a humanist development agency.
This project is expected to create the interest of local credit markets and rural financial institutions in financing of renewable energy projects.
“Each company will partner with a financial institution of her choice to facilitate the project; they have selected parts of the country they will operate in. The programme targets 9,000 households and 1,100 businesses if successful,” said Stam Nienke, a project director.
Image Credit: Uganda map & flag colors by TShilo12 (in public domain)
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Mridul Chadha currently works as Head-News & Data at Climate Connect Limited, a market research and analytics firm in the renewable energy and carbon markets domain. He earned his Master’s in Technology degree from The Energy & Resources Institute in Renewable Energy Engineering and Management. He also has a bachelor’s degree in Environmental Engineering. Mridul has a keen interest in renewable energy sector in India and emerging carbon markets like China and Australia.