What is Renewable Energy Fund 'Cana Uhendukiwe'?
This fund provides concessional lines of credit facilities to SACCOs, banks and microfinance institutions, mini-grid developers, and Off-grid Solar Companies who lend to the final beneficiary households and micro-enterprises for off-grid connections. It has two components;
- Line of credit, direct financing, and subsidy for off-grid electrification that provides US$ 30 million line of credit facilities and US$ 15 million Results-Based Financing (RBF) subsidy through 5 windows.
- Technical assistance, capacity building and project implementation support on a need basis to BRD and participating entities (SACCOs, banks, and off-grid companies).
Windows of Investment
We provide wholesale line of credit through on-lending to SACCOs complying with established eligibility criteria. SACCOs will on-lend the funds to final beneficiaries ( households, enterprises, and Off-Grid Solar Companies) for the acquisition and possibly in the case of the Off-Grid Solar Companies, distribution of qualifying solar systems.