Solar power loan project kicks off

National, Normal

PAPUA New Guineans can now afford solar power to bring brighter, cheaper, safer and cleaner light and power into their homes.
The Solar Power loans project, launched on Wednesday, allows grassroots Papua New Guineans to buy solar power kits for their homes through flexible, low interest loans with no bank fees at ANZ Bank and Nationwide Microbank.
The Solar Power loans project, an initiative of the World Bank, was developed to improve livelihoods and increase the use of renewable energy within PNG.
Most families across the country have no access to power, and use kerosene for lighting as it is the only affordable option for low-income earners.
But kerosene is dangerous, unhealthy and gradually becomes expensive over time.
It is responsible for numerous deaths and injuries every year from house fires and accidental burns.
Matt Carr, project manager for the Solar Energy finance project, said: “This project helps people break out of the kerosene cycle and start benefiting from a modern and improved energy service – solar power.”
ANZ customer, Kathy David, who will apply for a Solar Power loan, said: “I spend about K30 a fortnight on kerosene for lighting.
“With a Solar Power loan, I can get a solar power lighting kit that provides much brighter light, can power a radio and charge my mobile phone.
“My loan repayments will be K25 a fortnight,” Ms David added.
“In three years, my loan will be paid off and my power will be free.”