FUNAE is a public institution funded in 1997 by Decree 24/97 of 22 July, which operates at the national level with the aim to fund and provide financial guarantees for projects that contribute for the:

• Development, production and utilization of energy forms enabling the expansion of low cost energy services in the rural and urban areas;
• Promotion of energy resources conservation and rational and sustainable management.

 

FUNAE’s is institutionally set under the Ministry of Energy (ME), the Government Body responsible for the energy sector. The organization structure of the ME reflects a functional division in three levels:

• The Political Level (Ministry of Energy) where the policies for the energy sector are defined;
• The Political Execution Level, where the government agencies (National Directorates of Fuel, Electric Energy and Renewable Energy, Studies and Planning- CENELEC, UTIP, FUNAE, DIPREMEs ) undertake tasks assigned by the Government; and
• The Operational level, where the energy production, transmission and distribution and business companies interact with customers and other entities of the private sector.

 

Activities

FUNAE undertakes its activities taking into consideration the sector policies and strategies, government programmes/plans and directives issued by the ME related directly with its Mission, namely:

• To supply financial assistance or financial guarantees, loans to enterprises that have as their objective the production, dissemination of production techniques, distribution and conservation of power in its diverse forms.
• To supply financial assistance for the installation or install systems of production or distribution of power.
• To acquire, finance or supply financial guarantees for the purchase of equipment and machinery destined for the production and distribution of power, with particular attention for the use of new and renewable power sources.
• To promote the installation or to install distribution networks of petroleum products in rural areas.
• Supply of consulting services and technical assistance.
• Publish and finance the preparation of studies and investigative papers on technologies for the production, distribution and conservation of power products or renewable power.
• To promote the development and planting of forests for biomass production.
• To supply financial assistance for the sourcing of transport for petroleum products for the supply of rural areas.

 

Special attention should also be given to three economic development vectors defined as fundamental in the sector strategy:

• Eradication of absolute poverty;
• Reduction of development asymmetries between different regions,
• Development of country business sector.