Uganda is to benefit from US$100m (about sh280b) investment on solar energy that will enable her citizens who are off-grid to light their homes.
The funding is from Green light Planet, a US based company that distributes solar energy products for off-grid homes in the developing countries.
“As a result of this financing we are building the largest rooftop consumer base in the developing world. We are investing especially to expand distribution in Sub-Saharan Africa,” Anish Thakkar the company’s chief executive officer and co- founder stated.
Thakkar’s remarks are contained in a press release issued to the media.
“Greenlight Planet has established itself as a product leader with a strong brand in the fast growing off-grid energy segment. We are excited to partner with Greenlight Planet and its exceptional management team as the company embarks on its next phase of growth.”
The investment expects to reach 100 million off-grid households by 2020.
Over 1.2 billion people worldwide live off the electric grid and use dim smoky kerosene lanterns for light.
Thakkar said with that kind of investment the lives of people will change for better.