Approved Operational Guidelines for the REF 2017 v3
The Minister of Power, Works and Housing, Raji Babatunde Fashola, spoke at the 21st Monthly Power Sector Ministerial /Stakeholders meeting at the Asaba, Delta State that Benin Electricity Distribution Company (BEDC)
He revealed to the stakeholders that the Rural Electrification Agency (REA) has completed the guidelines for the operation of the Rural Electrification Fund.
The minister explained that the fund is to provide partial capital payment (subsidy) rural electricity operators.
The minister added that “what the fund seeks to do is to provide a partial capital payment by way of subsidy for technical assistance to eligible private rural power development operators and also to end use for communities for options as hybrid solar and to generally scale up rural access to electricity.”
He said the fund is to facilitate investment in hybrid mini-grid, solar system and to generally scale up rural access to electricity.
The minister noted that those that fund will serve are the unserved rural communities.
The fund, according to him, will provide a minimum of $10,000 and maximum amount of $300,000 which 75% of the project cost.
He said the REA will publish the guidelines and eligibility criterial in the national newspapers
Source: The Nation Online