The Rural Electrification Authority (REA) has launched its 2014-2018 institutional strategic plan with a total investment of K 1.7 billion.
This has been revealed in a statement made available to ZANIS in Lusaka today by REA Chief Executive Officer Geoffrey Musonda.
Mr. Musonda said this translates into an average annual budget expenditure of K340 million between 2014 and 2018 for both project implementation and operation programmes.
He said the launch of the new strategic plan was part of the overall rebranding programme which has a number of activities most of which were going to be implemented during this year.
Mr. Musonda said one of the key strategic focuses for the next five years is the promotion of the private sector participation in rural electrification.
He said this arises from the rural electrification act of 2003 which provides for the authority to, in conjunction with other stakeholders, develop mechanisms for operation of grid extension networks for rural energy supply.
Mr. Musonda said the project further offers the authority an opportunity to design and offer on a competitive basis to developers or operators, smart subsidies for capital costs on projects that were designed to supply energy for the development of rural areas.
He said to this effect, the authority has developed guidelines for financing rural electrification projects adding that REA will within the 2014-2018 strategic plan period finance projects both within and outside the Rural Electrification Master Projects (REMP).
Mr. Musonda said the Authority emphasises on supporting this strategic objective as an affirmative action aimed at facilitating the active participation.