The Renewable Energy Fund project that was launched last year officially kicked off operations countrywide and aims to connect at least 20,000 households with solar energy as part of the National Strategy for Transformation (NST1) which sets out a target to achieve universal access to electricity for all Rwandans by the year 2024. It is planned that 52% of the energy will come from the grid and 48% from off-grid.
The loan is part of a Result-Based Financing (RBF) subsidy scheme of US$ 15 million that was approved by the Government of Rwanda and World Bank in 2020 and will be implemented as Window 4 under the existing REF program that will benefit at least 20,000 households.
The project is designed to address affordability issues of solar home systems which the lower-income population and solar companies identified as a key hindrance.
Read more: The New Times