IDCOL to support Ministry of Energy in Malawi for solar home system program implementation
IDCOL is expanding its cross-border advisory services under which IDCOL earlier supported the Rural Energy Agency in Tanzania for the establishment of the Renewable Energy Investment Facility (REIF)
IDCOL will provide consultancy services to the Ministry of Energy in Malawi for the Off-Grid Market Development Fund under the Malawi Electricity Access Project, funded by the world bank.
According to a press release, the objective of the fund is to address the challenges of scaling up the off-grid market in Malawi and electrifying 200,000 new households in remote rural areas.
The project will also have a transformative impact by reaching households who will not be connected to the grid in the foreseeable future by creating an enabling environment for solar companies.
IDCOL, a non-bank financial institution under the Economic Relations Division, catalyzes private sector investment in infrastructure, renewable energy, energy efficiency and PPP projects in Bangladesh. Notably, IDCOL implemented the globally acclaimed Solar Home System (SHS) program under which more than five million SHSs were installed all over Bangladesh benefiting 12% of the country’s population.
In recent years, IDCOL is expanding its cross-border advisory services under which IDCOL earlier supported the Rural Energy Agency in Tanzania for the establishment of the Renewable Energy Investment Facility (REIF) supported by the African Development Bank.
In Bangladesh, IDCOL provided support in updating the Nationally Determined Contributions (NDCs) which were submitted to the UNFCCC last year.
IDCOL also supported the Climate Vulnerable Forum for the formulation of the ‘Mujib Climate Prosperity Plan: Decade 2030’, a strategic climate plan named after the father of the nation, Bangabandhu Sheikh Mujibur Rahman.