Govt invites takers for solar revolving fund

She said the SRF is a credit facility established by the ministry in 1996 to stimulate the usage of renewable energy, mostly by people living in off-grid areas on farms and rural areas, but there have been few takers.“At the moment, rural electrification stands at 20% and the government wants that figure increased substantially in line with the Harambee Prosperity Plan II goals where the government wants to electrify 6 000 rural households and 13 000 households in peri-urban areas in order to uplift the standard of living of the people.“We also give funds to people living in urban areas,” she added.Amakutsi said the fund is an element of the off-grid energisation master plan (OGEMP) for Namibia, whose objective is to provide access to appropriate energy technology to rural areas.“It is an extension of the rural electrification programme through which the ministry is trying to reach the people in areas where it is too expensive to bring national grid power lines,” she said.According to Amakutsi, SRF runs on an ownership model where individuals obtain loans to purchase renewable energy technology products and the ministry is, therefore, financing the acquisition of stand-alone systems to provide renewable energy.“This is a subsidised loan where beneficiaries will pay 5% interest a year over a repayment period of five years.”Amakutsi said the ministry funds the acquisition of home solar systems for lighting, refrigerators, televisions and other household appliances. This loan is for a minimum of N$6 000 and a maximum of N$60 000.“We also provide a maximum of N$60 000 financing for borehole solar pumps for the farm as well as domestic use,” she said, adding that the ministry also gives loans to people in urban areas who want to acquire solar systems like geysers to reduce the amount of grid electricity they use.“Loan beneficiaries can access a maximum of N$30 000 for this system,” she said.According to Amakutsi, the government provides the funds for the revolving fund while some of it is generated through loan repayments.“Up to 330 000 euros (N$5,28 million) will come from a Green People Energy Project as a grant under an agreement between the Namibian and German governments.”These funds are mainly to benefit low-income earners and rural small-to-medium enterprises who want to enhance their businesses, Amakutsi added.“The challenge is that because of the economic challenges, we have only been able to get an 85% recovery rate. “We also have the challenge of educating beneficiaries of the SRF loans how to look after their new technology systems properly so that they can reach their lifespan,” she said, adding that the ministry has a database of evaluated installers countrywide who can also teach beneficiaries which gadgets to plug onto their systems.According to the ministry, applicants must be between 21 and 55 years with an active bank account into which their salary is paid and they must have been in employment for at least two years.Pensioners with a regular income like farmers or business owners can apply for funding if they can provide 30% deposit for the loan.“Application forms can be obtained on the ministry's website or offices, as well as from registered installers,” said Amakutsi. Email: matthew@namiban.com.na

In an age of information overload, Sunrise is The Namibian’s morning briefing, delivered at 6h00 from Monday to Friday. It offers a curated rundown of the most important stories from the past 24 hours – occasionally with a light, witty touch. It’s an essential way to stay informed. Subscribe and join our newsletter community.

The Namibian uses AI tools to assist with improved quality, accuracy and efficiency, while maintaining editorial oversight and journalistic integrity.