- The OMDF has launched a performance-based grant in Madagascar.
- Under the scheme, solar kit providers would be eligible for $25m in subsidies.
- The OMDF targets the distribution of 900,000 solar kits by 2024.
The Off-Grid Market Development Fund (OMDF) has launched a performance-based grant scheme for solar kit suppliers in Madagascar. The fund is being implemented by a partnership between the government of Madagascar and the World Bank. Under this scheme, 12 solar providers distributing solar systems ranging from solar lanterns to solar home systems will access $2.5 million. Companies that meet their targets will be eligible for an additional $25.5 million in subsidies.
The OMDF wants to launch another performance-based grant programme in the coming months. The funds will be managed by Bamboo Capital Partners and target distributing 900,000 solar kits in rural areas by 2024. Partners expect the scheme to accelerate electrification in the Indian Ocean nation. The country currently has a total generation capacity of 969 MW and an electricity access rate of 25%. The government of Madagascar plans on deploying solar energy, especially off-grid solar, to reduce the electricity deficit in rural communities.