Malawi launches Ngwe Ngwe Ngwe Fund for solar electricity

Malawi launches Ngwe Ngwe Ngwe Fund for solar electricity

Minister of Energy Ibrahim Matola has disclosed that over 200 thousand households in rural areas are expected to get solar electricity through Ngwe Ngwe Ngwe Fund under Malawi Electricity Access Project

Speaking, in Lilongwe when he presided over the launch of the Fund, Matola explained that it is aimed at scaling up solar markets by providing financial support through a revolving fund for solar companies to purchase and install off –grid solar home systems to rural households.

The minister also said that another part of the fund will provide targeted end user beneficiaries with subsidies in order make the installation affordable and close the affordability gap of customers.

World bank Country Director Hugh Ridell said are committed to support the country in achieving its ambitions as set out in the M2063, however he said that cannot be done without access to reliable and affordable electricity.

The 20 Million Ngwe Ngwe Ngwe Fund is in three windows of 14 million dollars, 5.5 million dollars and 500 thousand dollars.

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