MININFRA gets funds for renewable energy

The Government has negotiated and acquired two grants from different stakeholders to support the Sustainable Energy Development project (SED) which aims at safeguarding and sustaining the existing and future renewable energy infrastructure. USD 4.5m was secured from the Global Environmental Facility Trust Fund (World Bank/GEF) and €4m from the Nordic Development Fund. The primary goal for this project support, according to MININFRA, is to complement existing and on-going investments in renewable energy by placing emphasis on technical assistance for the sustainability of the sector. “The project will strengthen investments by adding activities that focus on long-term sustainability and improve the capacity of local companies to accelerate the integration of local private sector into the planning process and implementation of renewable energy projects,” reads the statement. The ministry stated that the project targets the introduction of renewable energy at the least cost option, particularly, through the promotion of solar water heaters in residential and tertiary sectors. “This programme targets to achieve the installation of 38,400m2 of solar water heaters in the residential and tertiary sectors which will enable energy saving of 23,040 KW per year for 3 years.” According to MININFRA, the country’s energy policy is based on the exploitation of local natural energy resources to reduce dependence from energy exports and also ensure maximum environmental protection through the use of renewable, clean and sustainable energy sources. “The approach will be based on a grant and credit scheme which will enable the consumer to purchase and install solar systems in their houses, hotels, hospitals and schools.” the statement reads. Ends

National

MININFRA gets funds for renewable energy