The country has one of the lowest electricity consumption per capita in the world, with an average electrification rate of 18,2%, with the lack of reliable and affordable electricity hindering more sustainable economic growth. Situated in eastern Uganda, the plant will serve the equivalent of 36,200 people via generation.
The plant will be developed and owned by Building Energy, a multinational company operating as a global integrated IPP in the renewable energy industry with experience in developing more than 2,000MW of renewable energy projects in Africa.
Building Energy will be responsible for the construction and operation of the power plant. While Dutch development bank, FMO arranged a $14,7m senior loan for the financing of the project, of which 50% was syndicated to the Emerging Africa Infrastructure Fund (EAIF).
The project is developed under the KfW led GET FiT facility, which is a dedicated support scheme for renewable energy projects managed by Germany’s KfW Bankengruppe in partnership with the government of Uganda through the Electricity Regulatory Agency (ERA). It is funded by the European Union Infrastructure Trust Fund, and is also supported by the Governments of Norway, Germany and the United Kingdom.
