New and renewable energy to be funded in Mozambique

18 May 2010

Maputo, Mozambique, 18 May – The Mozambican National Energy Fund (Funae) plans to provide 12.5 million meticals (US$367,000) per year over the next three years to develop new and renewable energy projects, Rádio Moçambique reported.

The funding, which is to be managed by micro-financing institutions and national non-governmental organisations, is part of the credit line to fund water pumping systems based on solar panels, fuel distribution, production of improved ovens and other projects in the area of renewable energies.

Recently, Funae and the Limpopo Farmers Savings and Loan Cooperative (CPL) recently opened the first solar-powered water pumping system, in the district of Chókwè in the central province of Gaza.

The project will provide water to cattle, but will also indirectly benefit the region’s population as there is also a lack of water for human consumption.

The credit line was a method set up by Funae, a public institution, to promote, disseminate and expand access to alternative energy sources in rural areas. (macauhub)