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Private sector taps into renewable energy

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UECCC managing director, Ms Specioza Kimera Ndagire. PHOTO BY PETER MWAYI 

By Peter Mwayi

Posted  Monday, March 24   2014 at  02:00

In Summary

Move intended to address increasing power demand.

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Kampala.
Uganda Energy Credit Capitalisation Company (UECCC) has intensified support for increased consumption of renewable energy especially in the private sector.
The support comes after the energy credit company recently invested funds to finance solar as the alternative form of electricity to Ugandans.
According to UECCC managing director Specioza Kimera Ndagire, it is important that the private sector and stakeholders come together to support tapping into Uganda’s vastly endowed renewable energy.

Ms Ndagire said UECCC will work with selected financial institutions to finance renewable energy projects and guarantee solar loans to the business fraternity.
“We need to empower the private sector including small and medium businesses (SME’s) with skills of harnessing the consumption of the renewable energy resource,” she said.

Ms Ndagire was recently speaking at a breakfast meeting held in Kampala to profile UECCC and unveil the skills transfer event organised by stakeholders.
She said with demand for electricity growing at 12 per cent per annum, there are ample investment opportunities for developing new renewable energy sources.

pmwayi@ug.nationmedia.com