The African Development Bank (AfDB), as part of the Sustainable Energy Fund for Africa (SEFA), approved a $995,000 grant for the development of renewable energy in The Gambia.
The funds will assist The Gambia in facilitating private investment in green mini-grids through the creation of an enabling policy. It will support the preparation of appropriate policy and regulatory framework, develop technical standards and guidelines, carry out feasibility studies and structure a tender process to attract the most suitable investors, according to the AfDB.
The project will also provide technical and institutional capacity building, including on legal and regulatory issues for the Ministry of Petroleum and Energy, PURA, Gambia’s regulator, and NAWEC its national power utility.
“At this time of transition, we are pleased about assisting The Gambia in attracting investments into clean energy mini-grids. These will be key to providing energy to all rural households and businesses, thus laying the foundations for sustainable economic development,” AfDB renewable energy division manager, Engedasew Negash Habtemichael, stated.