|Overview : |
With a number of financing opportunities in the renewable energy and energy efficiency sectors, there is still a gap with financial institutions in offering services and products to the public.
One of the key mitigation actions under Uganda’s Sustainable Energy for All Action Agenda is the need to promote access to renewable energy and energy efficient technologies with attention to the private sector. However there still exists a challenge of lack of access to affordable financing even though funding programs especially from development partners exist.
A gaps assessment identified a number of capacity building needs for SEforALL implementation including the need to build capacity of financial institutions in project development in the renewable energy and energy efficiency sub sectors.
It is against this background that Ministry of Energy and Mineral Development through the Sustainable Energy for All Secretariat seeks to recruit a consultant to conduct training to selected small and micro financial institutions in financial modelling, project assessment and evaluation for renewable energy and energy efficiency projects.
The beneficiaries of this assignment will be the financial institutions in Uganda which are already involved or interested in being involved in financing renewable energy and energy efficiency projects in Uganda. It is acknowledged generally that the involvement of the private sector is key to achieving the targets set out by the SEforALL Action Agenda for Uganda by 2030. The targets are;
- To increase the electricity access rate from 22.5% in 2018 to over 98% of the population;
- To have over 99% of the population with access to modern cooking solutions;
- To improve energy efficiency of power users by a minimum of 20% and to reduce wood fuel consumption by 40%;
- To increase the renewable energy share in the total final energy consumption for electric power to over 90%.
In addition, it is also known that availability of finances that can be sourced locally is in short supply in Uganda and other Sub-Saharan countries as well. Because of the limited knowledge of the renewable energy technologies and risks associated with them, the financing institutions are risk averse and are hesitant to provide financing to the private sector in the RE and EE space. Therefore, a training programme for commercial banks and other financial institutions is planned under the MEMD – IGGPR programme.