ELGON HYDRO SITI (PVT) LIMITED
Status: Approved investmentWhy disclosure?
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Disclaimer
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
The client is Elgon Hydro Siti Limited, a SPV set up to develop, construct and operate two run-of-river hydro plants (Siti 1: 5MW and Siti 2: 16.5MW) in the Elgon area in Eastern Uganda. Elgon is majority owned by DI Frontier Market Energy and Carbon Fund K/S Fund, a Danish private equity fund that is developing a portfolio of renewable energy IPPs in eastern Africa. DI Frontier is currently developing four run of river hydros in Uganda under the KfW led GETFiT program.
What is our funding objective?
FMO provides a USD 24 million senior loan, of which 50 percent has been catalyzed from Emerging Africa Infrastructure Fund (EAIF). The loan facility will be used for the construction of the Siti 2 hydro plant. FMO has financed the construction of the Siti 1 plant, which started in 2015.
Why do we fund this investment?
FMO finances this small, run of the river hydro power plant in Uganda to support the development and construction of additional renewable electricity generation in Uganda. The project is expected to generate 60 GWh clean energy per year, and will support strengthening of Uganda’s grid in the east of the country. The electricity produced will serve the equivalent of 706,000 people and has an annual avoided GHG rate of 30,624 tCO2eq. The project coincides with FMO’s strategy to contribute to clean energy projects in emerging markets. In line with this strategy, FMO also catalyzes funds from EAIF.
More investments
| Date | Total FMO financing |
|---|---|
| 6/25/2015 | USD 5.30 MLN |
- Website customer/investment
- http://www.frontier.dk
- Region
- Africa
- Country
- Uganda
- Sector
- Energy
- Effective date
- 9/19/2016
- Total FMO financing
- USD 11.95 MLN
- Funding
- FMO NV
-
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+