HomeNewsSecond phase of REACT SSA Somalia program has been launched

Second phase of REACT SSA Somalia program has been launched

The second phase of the Renewable Energy and Climate Technologies in Sub-Saharan Africa Somalia program, simply known as REACT SSA Somalia program, is meant to support the development of Somali-based companies, more especially microfinance institutions that are commercially active in the renewable energy market, has been launched.

The program was launched by the Africa Enterprise Challenge Fund (AECF), a development institution that supports businesses to innovate, create jobs, leverage investments and markets in an effort to create resilience and sustainable incomes in rural and marginalized communities in Africa.

Search for construction leads
  • Region/Country

  • Sector

With a budget of about US$ 61M, the program is funded by the Swedish International Development Agency (SIDA), a government agency of the Swedish Ministry for Foreign Affairs responsible for the organization of the bulk of Sweden’s official development assistance to developing countries.

The objective of the REACT SSA Somalia program

Generally, the REACT SSA Somalia program aims to catalyze the private sector to increase the supply of cleaner fuels, raise awareness of the dangers of indoor air pollution, while promoting clean energy technologies.

Also Read: US$ 49M+ for road projects under Somalia regional corridors infrastructure

It finances solar home systems, stand-alone solar systems for productive uses, green mini-grids, and clean fuels such as ethanol for cooking.

In Somalia, it will provide grants of between US$ 100,000 and US$ 1.5 million to commercially viable businesses, 25% of which will be owned or managed by women after the achievement of mutually agreed-upon milestones.

Inspiration for the private sector to invest and innovate in low-cost clean energy solutions

Victoria Sabula, AECF’s executive director says, “This initiative inspires private sector investment and innovation in low-cost clean energy solutions. The companies that will receive grants and technical assistance under this program must provide affordable, quality clean energy products and services that benefit low-income populations in rural and peri-urban areas, especially women.”

As part of its tender for the second phase of the REACT SSA program, the fund is strongly encouraging companies based in the Hirshabelle, South West, and Banadir regions, or strategically planning to invest there.

Must Read

Phase 2 construction of Dosti Eden in Brahmand Thane West, India, launched

The construction of the second phase of Dosti Eden in Brahmand Thane West has been launched. The project was launched by the leading real...

Construction of US$ 200M solar panel manufacturing plant in Ohio in the pipeline

Plans are underway for the construction of a US$ 200M solar panel manufacturing plant in Ohio. The facility is set to be built by...

Ground breaks for electric vehicle (EV) battery giga factory in Kokomo, Indiana

A groundbreaking ceremony has been held for a new electric vehicle (EV) battery giga factory in Kokomo, Indiana. The project is developed by Stellantis in...

Construction begins on the Kennedy Expressway, Chicago

The next week will see the start of a three-year construction project on the Kennedy Expressway. Up until July, certain sections of the two...

Brightline West, Los Angeles to Vegas High-Speed Rail

After reaching an agreement with a group of significant labor unions, Brightline, the corporation behind the project, expects construction on the bullet trains to...

EPsCm contract awarded for steam cracker intensification off-gas processing project in Slovakia

An EPsCm contract has been awarded for a steam cracker intensification off-gas processing project in Slovakia. The engineering, procurement services, and construction management contract...

LEAVE A REPLY

Please enter your comment!
Please enter your name here