- AECF has launched 2nd round of REACT SSA for funding companies and microfinance institutions encouraging renewable energy deployment in Somalia
- It is open to commercially-viable and active entities, out of which 25% will be owned and managed by women
- It encourages Somalian states of Hirshabelle, Southwest and Banadir since these were the least represented during the 1st round
Private companies in Somalia promoting the use of renewable energy can seek financial support from the Africa Enterprise Challenge Fund (AECF) and win between $100,000 and $1.5 million grants. It will be awarded once the winners achieve mutually agreed milestones.
To be awarded through the Renewable Energy and Climate Technologies (REACT) Sub-Saharan Africa (SSA) program, the funding is open to commercially-viable and active private sector companies out of which 25% will be owned or managed by women, and microfinance institutions commercially active in the renewable energy space of Somalia.
Managed by the AECF and funded by the Swedish International Development Agency (Sida), REACT SSA initiative is aimed at off-grid households reducing poverty through ‘transformational increase’ in the use of renewable energy. It targets businesses that can deliver low cost, affordable, quality clean energy products and services benefitting rural and peri urban poor.
Among other clean energy initiatives supported by REACT SSA, small/pico=scale PV household technologies, solar home systems (SHS) with capacity ranging between 50W to over 100W for both homes and businesses, mini and micro grids from solar energy, and the like.
The AECF wants to see high participation from the Somalian states of Hirshabelle, Southwest and Banadir for this 2nd call REACT SSA competition. These states were least represented during the 1st round (see $8.5 Million For RE In Somalia & Somaliland).
Last date for interested applicants to submit their proposals is October 31, 2021. Details are available on AECF’s website.