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The government agency, jointly owned by the Ministries of Energy and Finance, announced the funds, which will be available as loans through Housing Finance Bank (HFB), are intended to ensure access to clean energy for all Ugandans.
KAMPALA – The Uganda Energy Credit Capitalisation Company (UECCC) has launched a Shs5 billion renewable energy financing initiative aimed at boosting energy access across the country.
The government agency, jointly owned by the Ministries of Energy and Finance, announced the funds, which will be available as loans through Housing Finance Bank (HFB), are intended to ensure access to clean energy for all Ugandans.
At a partnership signing event held at HFB on Wednesday, UECCC Managing Director Roy Nyamutale Baguma explained that the credit facility will focus on financing solar energy, biogas, and other sustainable energy solutions.
He stated that this initiative will drive Uganda’s energy transition and expand access to affordable electricity for businesses, households, and off-grid communities. “This partnership will not only provide affordable loans but also create employment opportunities,” he said.
Despite Uganda’s increased electricity generation capacity, now at 2,005MW following the commissioning of the Karuma Hydropower Dam, electricity access remains low at 57 percent.
The government launched the Electricity Access Scale-up Project (EASP) in January, aiming to connect approximately 1.3 million rural households to the national grid. The EASP, supported by World Bank funding of $638 million (about Shs2.4 trillion), seeks to increase energy access for households, enterprises, and institutions through both grid and off-grid connections.