Energy and Mineral Development Minister Eng. Irene Muloni has urged German investors to consider investing in Uganda energy sector.
In a dialogue hosted by among others the Federal Government and the German Renewable Energy Federation (BEE), Minister Muloni said Uganda has 20 independent power producers generating over 70 per cent of the country’s electricity supply. She also said that the country, which has a liberalized economy, has set up a number of Industrial Parks to ensure that there is a sustainable market for energy.
“Recently Uganda approved a free connection policy for everyone near existing networks, investing in Uganda, investors will be tapping on its largely unexploited and undeveloped renewable energy resources,” Minister Muloni said at the Fourth Berlin Energy Transition Dialogue in Germany.
The Minister also said Uganda offers tax holidays to credible investors for a period of five to 15 years with a vast market of products in East and Central Africa.
The event was opened by the new Federal Foreign Minister Mr. Heiko Maas, and is aimed at developing strategies for the ‘intelligent transformation of the energy system, the transport sector and the heating supply’.
In the meeting, participants called for transitions to newer, cleaner energy systems noting that current energy systems are simply unsustainable on all accounts of social, economic, and environmental criteria.
“Germany regarded the energy policy as a platform for cooperation, for dialogue and for international exchange and gave the Berlin Energy Transition Dialogue,” the new Minister was quoted as saying.
The keynote speaker, Mr. Peter Altmaier said engaging in discussion with participants and partners on innovative business models and technologically advanced and forward-looking solutions which would accelerate the global energy transition and make it more economically and socially attractive for all.