Sweden to spend € 20m on Renewable Energy Projects

SWEDEN has set aside €20 million to accelerate renewable energy in rural and peri-urban areas. The project is under the Power Africa Beyond the Grid Fund for Zambia (BGFZ), which aims to provide affordable renewable energy services.

Embassy of Sweden first secretary in-charge of energy Magdalena Svensson said the private sector-led project that has been awarded to five local and international companies and runs from 2016 to 2021, will result in off-grid renewable energy generation and distribution, which will benefit over one million people. “Sweden has provided €20 million for the BGFZ, of which €15 million has been committed to the awardee companies. We have to-date disbursed €1.7 million.

The awarded companies in their turn have committed € 20 million in own funds!

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