Status: Approved investment
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Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Access Uganda Solar Ltd. is a Ugandan company which will construct, own and operate the 10 MW Solar Power Project near Soroti in Uganda as its sole asset. The shareholders in Access Uganda Solar Ltd. are EREN Renewable Energy S.A. and Access Consultants DMCC.

What is our funding objective?

The objective of the loan is to fund the construction of the 10 MW solar power plant. Construction is scheduled to take 6 months and after construction the solar power plant is expected to generate 16.2 GWh per year.

Why do we fund this investment?

FMO provides funding to the Soroti 10 MW Solar Power Project to support the development and construction of additional renewable electricity generation in Uganda. The Soroti project will provide 10 MW of additional capacity and will extend Uganda's electricity grid in the east of the country. It is the first utility scale solar power project in Uganda. The Soroti Solar Power Project is part of KfW's GETFiT program which creates the financial, legal and regulatory framework necessary to allow smaller scale (5-20 MW) renewable energy projects to be developed in Uganda. This fits FMO's overall strategy of halving our foot print and doubling our impact.

Effective date
Total FMO financing
USD 5.35 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)