IFC, a member of the World Bank
Group, this week launched a $5 million program to increase access to
energy in Tanzania by developing a market for mini-grids. The initiative
aims to bring affordable, off-grid renewable energy to households and
businesses in rural Tanzania.
IFC
will work with project developers in Tanzania to promote commercially
viable mini-grid business models, and will advise banks and financial
institutions on how to extend long
term finance to mini-grid developers.
Tanzania
has been selected as one of the first countries to test the concept of
using small-scale renewable energy production sources under a new
program, called the Scaling-up
Renewable Energy in Low Income Countries Program. In Tanzania, it aims
to help diversify energy production away from fossil fuel based sources.
Mini-grids
are technically and commercially viable for high-density populations
that live outside the reach of the national electricity grid. The
Tanzanian government estimates
that about half of the country’s rural population could be served by
off-grid options in a cost-effective manner. Mini-grids could provide
access to electricity for 9.1 million people in Tanzania.
Lutengano
Mwakahesya, Director General of Tanzania’s Rural Energy Agency said,
“We have an urgent task ahead of us to increase energy access in
Tanzania. Mini-grids are a key part
of the solution, so this program with IFC is an essential step to
improve the quality of life of households, demonstrating the role of the
private sector.”
Tanzania’s
Ministry of Energy and Minerals was closely involved in developing the
mini grids program, and was represented at the event by the Assistant
Commissioner, Mr. Edward
Ishengoma.
Dan
Kasirye, IFC’s Resident Representative for Tanzania, said “IFC aims to
help develop a robust mini-grid market in Tanzania, which will create
investment opportunities in the
renewables sector and help fill the country’s energy gap. We plan to
mobilize the financial resources and expertise of the private sector to
expand energy services to low-income communities.”
IFC,
a leader in renewable energy finance, helps developing countries
transition to a low carbon future. Over the past three years, IFC has
financed close to $3.5 billion in renewable
energy projects worldwide, including biomass, geothermal, hydro, solar,
and wind.
About IFC
IFC,
a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with more than 2,000 businesses
worldwide, we use our capital, expertise, and influence, to create
opportunity where it’s needed most. In FY15, our long-term investments
in developing countries rose to nearly $18 billion, helping the private
sector play an essential role in the global effort
to end extreme poverty and boost shared prosperity.
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