The African Enterprise Challenge Fund (AECF) has established an off-grid solar project for Somalia and Somaliland.
Reports show that the project is worth $8.5 million.
AECF announced that it would release grants worth $8.5 million to companies that offer off-grid solar services in Somaliland and Somalia.
The project is part of the ongoing REACT Sub-Saharan Program that focuses on poverty reduction through “advanced transformational use of renewable energy.”
Victoria Sabula, AECF’s Executive Director, said that the Somali market offers a unique opportunity for the organization to change overreliance on mini-grids.
She said that the funding would stimulate market growth by engaging the private sector to offer value for money.