Query: What is the Solar Revolving Fund and how does it operate?
Response: The Solar Revolving Fund is a credit facility established by the Ministry of Mines and Energy to stimulate demand for the utilization of renewable energy technologies in the rural areas, especially for communities living in off-grid areas, but also to urban clients. The main objective is to provide access to appropriate energy technologies to rural areas. The Solar Revolving Fund runs on an ownership model where individuals obtain loans of up to N$ 50 000 to purchase renewable energy technology products by obtaining a detailed quotation from the accredited energy service providers to install the technology at the area of choice.
Query: Who can apply for a Solar Revolving Fund loan?
Response: The applicant must be a Namibian citizen, aged between 21 and 55. This fund is also applicable to any person with an active bank account into which his/her monthly or regular income is paid and with a clean credit record. It should be noted that credit references will be verified with Trans Union and CumpuScan. One should also be able to prove two years of employment with the same employer or in the same line of employment. Additionally it should be noted that any pensioner with a regular income e.g. a farmer, a business owner, and is able to pay 30% deposit of the total loan, may apply for a Solar Revolving Fund loan.
• Ten Hasheela, Chief Public Relations Officer, Ministry of Mines and Energy, Email address: email@example.com
*The responses contained herein are in response to questions and comments published in various national newspapers, as well as directly with the government agencies concerned.