Ruaha Energy Announces REPP Facility Approved
The Company announced today it has received approval for a REPP (Renewable Energy Performance Platform) technical assistance facility.
By: Ruaha Energy Company Limited
DAR ES SALAAM, Tanzania - March 24, 2018 - PRLog -- In early 2017, the Company began working with Camco Clean Energy ("Camco") on its application for a technical support facility under the REPP (Renewable Energy Performance Platform) Program. The REPP program was initiated by the European Investment Bank (EIB) and UNEP to deliver the UN SE4ALL objectives in sub-Sahara Africa. The program is co-managed by Camco and Greenstream. Camco is a clean energy company which combines technical and commercial expertise to finance, develop, and operate renewable energy projects and storage technology.
The support facility, which was approved on 21 March 2018, represents a maximum of US$455,000 in funding support and will cover a portion of the professional consultant fees for the feasibility, environmental, and engineering studies required to develop a commercially viable portfolio of four standalone one-megawatt grid connected solar photovoltaic facilities. The facility will also provide partial funding support for legal and lender due diligence and review. Disbursements are expected to begin in April to fund early stage engineering studies which will be used to validate the technical feasibility at each target location.
Ruaha Energy brings "power to the people" by increasing customer's access to reliable and affordable energy. The Company strives to implement sustainable, clean energy solutions that optimize the renewable resources available in each market or village it serves, helping to unlock the entrepreneurial potential of its customers by increasing their capacity and ability to employ value-added agro-processing, light manufacturing, refrigeration, woodworking, and metal working activities. The solutions it provides enable accelerated economic development in the communities we serve. Electric power brings economic power.
About Ruaha Energy:
Ruaha Energy is a Tanzanian registered private company that is committed to profitably developing and operating customized hybrid and standalone grid and off-grid electrical power generation facilities and distribution networks that supply green energy to underserved rural and small urban markets in Tanzania
John Tate, CEO