Uganda ranked third in Africa for access to renewables

June 28, 2016 in Business, Companies, Energy, Renewable by Editor

KAMPALA, JUNE 28 -Uganda’s efforts to increase renewable energy access have seen the country

Emerge third among the top five producers of renewable energy in Africa, according to the Fieldstone Africa Renewables Index released during the just concluded Africa Energy Forum in London.

The Index which is designed to assist investors, developers and financial institutions in comparing the relative merit of renewable efforts in different countries ranked Uganda third after Morocco and South Africa. It takes into account real world experience as well as the legal, regulatory and technical basis to get things done.

Uganda was recognized for its Successful GET FiT (Global Energy Transfer Feed-in Tariff) programme which has produced five hydro projects and two solar projects which are currently ongoing.

The country’s continued investment towards resolving grid interconnection issues and also aggressive effort in resolving teething issues in renewables that will make future investment less complicated also contributed to the country’s performance.

The index recommended for Uganda to maintain political stability post-election in order to continue attracting investments to the country.

According to the index, countries in the “Big Five” category are countries where an investment of time and capital in a renewable energy project might most readily be made today.

The Index which was launched in early June 2016 will be announced every trimester (June, October and February) by the Financial advisor Fieldstone Africa.