NGEF Launches New Product Catalogue of Home Systems and Microgrids
The National Green Energy Fund (NGEF) has launched its first-ever product catalogue that has in it a list of approved solar home systems and microgrids eligible for funding by NGEF.
This catalogue was launched last week in Port Vila in a symbolic ceremony that saw the Director General of the Ministry of Climate Change Adaptation (MOCCA) and Chairlady to the NGEF Board, Esline Garaebiti, handing over the catalogue to NGEF Manager, Mr Georgewin Garae, and the NGEF team.
In the catalogue are different approved products that beneficiaries such as Households, Micro, Small and Medium Enterprises as well as Public Institutions can purchase with the funding assistance from NGEF.
The NGEF financing products include Loans, Risk Facilities, Grants and a mixture of the three products with lending being the priority being implemented.
The costs included in the NGEF Product Catalogue cover the cost of a solar PV system, freight to islands and installation.
NGEF has a Mission of being a financing vehicle for the Vanuatu Government for achieving 100% electricity access and 100% renewable energy by 2030 as outlined in Vanuatu’s National Energy Road Map (NERM 2016 – 2030).
The benefits of NGEF products are that the approval of products is based on a quality and design guideline for products which provide quality power and suitable for Vanuatu’s climate.
The approved NGEF solar vendors are Energy4All, eTech Vanuatu Limited, and Power and Communications Solutions (PCS).
Contacts for all three vendors have been included in the new catalogue.
The newly launched catalogue is an improvement from the previous catalogue used by the Vanuatu Rural Electrification Project (VREP II Project).
The Director General in her address during the launching said the sudden closure of the VREP II project on December 31, 2021 has immensely affected implementation of the NGEF Fund in terms of missing the 33% much-needed subsidy but more so, missing out on using the Standard Implementation Manual along with its solar PV products that were registered in the VREP II catalogue.
That is why a new catalogue with approved products had to be printed for use.
“I would also like to make mention of the progress of the Fund and its future opportunities as one of the first Government’s financial mechanism for the energy sector to assist in implementing the objectives of the Updated National Energy Road Map (NERM) by 2030.
“NGEF is in its 4th year of Operations.
“Since its first solar PV projects that were implemented in December 2019, NGEF has attracted a total of 337 million Vatu worth of funding from the Vanuatu Government and the Vanuatu Utilities Infrastructure Limited (VUI) to support with its investments and operations,” the Director General as the Chair of the NGEF Board said.
She continued that 87% of the funds received is contributing towards the establishment of the Fund’s revolving fund while the balance has supported the establishment of the office and its operations.
“In addition, the NGEF Board would like to express its gratitude to the People of South Korea for the first external funding of VT43.7 million Vatu that was provided to NGEF through a Grant Arrangement and signed between the Vanuatu Government and the Korean International Corporation Agency (KOICA) in September 2021.
“This fund is contributing towards subsidizing the cost of solar PV systems by 27% during the pandemic period and is ending in November this year.
“The Board has successfully funded a total 73 project sites under its lending product, by the end of 2021, and the projects include primary and secondary schools, cooperative societies, area council and provincial councils and tourism operators in the off-grid areas.
“The total investment cost stands at 87.5 million vatu by the end of last year.
“The total electricity generated from all the sites is 329 Kilo Watt Hours per day.
“Of the total loan disbursed, 34% has been repaid contributing to the revolving fund,” DG Esline Garaebiti Bule said as she acknowledged solar vendors and other stakeholders involved.
In 2022, the NGEF Board successfully endorsed the NGEF Solar PV Manual to guide energy vendors and product registration and establish an operating procedure.
This document will eventually be incorporated into the Operations Manual to guide the Board and Management of the Fund.
Copies of the catalogue can be obtained at the NGEF office in the Ministry of Climate Change compound at Nambatu Area and can also be accessed online.