Development Bank avails $40.5 to increase off-grid solar penetration benefiting 3.7 people

Addis Ababa, March 15, 2024 (FBC) – The Development Bank of Ethiopia (DBE) has availed 40.5 million USD to finance the implementation of the Sub-component 3.2 of Access to Distributed Electricity and Lighting in Ethiopia (ADELE) project.

During the one-day awareness raising workshop held today, Project Design and Appraisal Team Manager at DBE Mengistu Desalegn said that the finance will be provided to facilitate the importation, distribution and deployment of off-grid solar systems and productive use equipment in rural and deep rural areas.

The project is part of the ADELE in which the World Bank supports 500 million USD for the 6 year project to phase out in 2027, according to ENA.

Thus, the team manager emphasized that the availed access to finance will increase off-grid solar penetration.

Mengistu noted that the project will benefit 750,000 households or about 3.75 million people from the solar off-grid energy.

DBE Vice President, Getachew Wakie said finance institutions should play their due role in channeling the availed finance towards the successful implementation of the project.

He added that ADELE is aimed at increasing access to reliable electricity for households, social institutions, and enterprises in the country.

Advisor to the Ministry of Water and Energy, Gosaye Mengistie said that the government of Ethiopia is implementing National Electrification Program (NEP) towards achieving universal electricity access nationwide.

To this end, the advisor pointed out that efforts are underway to boost access to reliable electricity for households, and social institutions.

Development Bank of Ethiopia (DBE), Ministry of Water and Energy, and Ethiopia Electric Utility (EEU) are implementing agencies of ADELE.