Energy capitalisation firm to finance solar dealers

Uganda Energy Credit Capitalisation Company (UECCC) is engaging energy service companies operating within the solar space on a results-based financing programme under the Electricity Access Scale-up Project.

The results- based financing programme is one of the four programmes being implemented by UECCC under the financial intermediation component of the Electricity Access Scale-up Project.

If the deal goes through, UECCC will provide grants, price subsidies or price cuts to energy service companies to address upfront affordability barriers associated with the purchase of clean technologies for lighting, clean cooking solutions, and productive uses of energy.

The programme will also provide higher incentives on a per-unit-sold basis to energy service companies, which register discounted sales in underserved and remote rural areas of Uganda.

The programme’s expected outcomes include increased use of clean energy for lighting, cooking and productive uses such as water pumping, irrigation, refrigeration and cooling, water heating and grain milling.