July 16, 2010

5,000 houses will light with solar system of Nepal by 2012

The demand of renewable energy is increasing day by day to produce electricity in remote areas. By using the solar system, people like a mountainous country Nepal are bringing changes in their life style. Solar energy increases the capability of the people of rural areas to earn money. It also raises their cash income and lessens the family members to live together happily. Many projects were run to put solar light on the villager’s house by the finance support in both sector public and privates.

A new project is going to conduct jointly. Ace Development Bank ltd. playing the leading role as a financer will invest in this sector.  The project will handle with the consultation of Winrock International. Frankfurt School of Finance and Management will act invest in the sector of capacity building and monitoring.

“Solar electrification of the houses will go through credit financing approach. Under the scheme Ace Development Bank will play the role of financier while Winrock International’s role will be that of a consultant to the project,” said Siddhanta Raj Pandey, CEO, Ace Development Bank.
“The cost of the project is $1.8 million out of which Frankfurt School’s UNEP Collaborating Centre for Sustainable Energy and Climate Finance will provide cost of capacity building and monitoring,” he said adding that the capacity building activities will support the improvement in governance and financial practices, develop marketing of SHS and assist in preparing business plans.

Under the project, 5,000 houses of rural Nepal will get light from the renewable energy source solar power. By the end of the 2012, the project will complete. Same renewable solar energy project is running at present in14 districts in the eastern and western hilly districts.

At this moment 250,000 households are under the facilities and 50,000 are coming under facilities each year. It is one of the big achievements; around 56 percent of people of Nepal are using electricity from solar system and hydro system.