UECCC partners with Banks to give loans for solar systems

The Uganda Energy Credit Capitalization Company (UECCC) has partnered with various Participating Financial Institutions (PFIs) to implement a Solar Loan Programme that entails provision of concessional loans to households and businesses wishing to acquire solar systems.
This was revealed by the Director Transaction Execution of UECCC, Mr. Roy Nyamutale Baguma during a ceremony to officially commence market activation of the Solar Loan Product at Finance Trust Bank, Gomba district.
“The aim of the Solar Loan Programme is to enable access to electricity in off grid areas through addressing the affordability barrier arising from the up-front cost of solar systems,” said Mr. Baguma.
Through the Programme, partner credit lending institutions will target individual customers, group customers, and salaried employees who wish to acquire solar systems for use in their homes and business premises.
The solar systems that can be acquired under this scheme include; Solar Home Systems
that meet the basic domestic electricity needs and Commercial Systems that cater for
electricity requirements of small scale enterprises in both urban and rural areas.
This initiative is being promoted through partnerships with Finance Trust Bank, Post Bank, Centenary Bank, Opportunity Bank and Pride Micro finance.
UECCC was established by the Government of Uganda six years ago and is in place to facilitate investments in Uganda’s Renewable Energy (RE) Sector.
The Company’s main objective is to provide financial, technical and other support for renewable energy development in Uganda, with a particular focus to enabling private sector participation. In this regard, UECCC provides Technical Assistance and new Financing Options for RE projects.
By Joshua Mutale