Renewable energy deployment and financing is necessary for Uganda – Centenary Bank

Centenary Bank, through its CenteSolar Loan, Power Connection Loan, and Improved Institutional Cooking Stoves, aims to provide short term financing for the purchase of solar equipment and electricity installations for residential and commercial premises at affordable interest rates.
This financing may go for as low as 15% per annum and for a period of a maximum of 5 years with flexible payment installments.

To be able to afford the initial cost of acquiring renewable and safe energy, there is need for access to affordable and flexible financing opportunities as an important means to facilitate the purchase of equipment and pay for installation, connection, and maintenance services. Opportunities as above are made possible by government of Uganda through foreign funding and technical assistance from the Uganda Rural Electrification Agency and Uganda (REA) Energy Credit Capitalization Company, which work closely with different financial institutions like Centenary Bank to design specific Renewable Energy Loan Products to mitigate this problem.

Read more: PML Daily