Uganda and the Climate Investment Funds are celebrating the endorsement of the country’s renewable energy investment plans under the CIF’S dedicated fund for Scaling Up Renewable Energy in Low Income Countries Program. (SREP)
SREP funding of $50 million (USD) will help advance geothermal exploration, solar photovoltaic net metering, the building of mini-grids and the development of wind power in the east African country.
Uganda is placing energy at the forefront of its social economic development. Right now, only 17% of the population has access to electricity. In rural areas, that figure drops to seven percent.
“With a population of 35 million, more than 29 million people in Uganda do not have access to electricity,” says SREP senior program coordinator Zhihong Zhang.
The SREP funding endorsed today, he says, “will help tackle this challenge by supporting Uganda in developing indigenous renewable energy resources and will offer opportunities for development even in remote areas of the country.”
“Aside from hydropower, geothermal, solar power and wind all offer lots of potential for Uganda,” he added.
“Ugandans have the potential to change the energy sector in the country and attract investment from other sources in the long-run.”
James Baanabe, Uganda’s Commissioner of the Energy Efficiency and Conservation Department in the Uganda Ministry of Energy and Mineral Development says:
“Energy is the driver of social economic development so adequate and reliable renewable energy is vital to our vision of becoming a prosperous country within 30 years.
“Uganda is blessed with a number of renewable energy sources. SREP will contribute to the development of our renewable energy for the social and economic development of our country.”
The Climate Investment Funds (CIF) is providing 72 developing and middle income countries with urgently needed resources to mitigate and manage the challenges of climate change and reduce their greenhouse gas emissions. The CIF allocates financing through four funding windows:The $796 million Scaling Up Renewable Energy in Low Income Countries Program (SREP) is helping to deploy renewable energy solutions for increased energy access and economic growth in the world’s poorest countries.
The $5.3 billion Clean Technology Fund (CTF) provides middle-income countries with highly concessional resources to scale up the demonstration, deployment, and transfer of low carbon technologies in renewable energy, energy efficiency, and sustainable transport.
The $785 million Forest Investment Program (FIP) supports efforts of developing countries to reduce deforestation and forest degradation and promote sustainable forest management that leads to emissions’ reductions and enhancement of forest carbon stocks (REDD +).The $1.2 billion Pilot Program for Climate Resilience (PPCR) is helping developing countries integrate climate resilience into development planning and offers additional funding to support public and private sector investments for implementation.