Project detail - ACCESS UGANDA SOLAR LTD.

ACCESS UGANDA SOLAR LTD.

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Who is our client

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.

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 we fund this project

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.

Region
Africa
Country
Uganda
Sector
Energy
Signing date
11/27/2015
Total FMO financing
USD 5.35 MLN
Fund
FMO
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)
B