Amari Power Transmission - SMC Limited
Status: Proposed investmentWhy disclosure?
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In case of questions
We welcome feedback on this proposed investment opportunity for FMO. The ending of the proposed investment phase is indicated on the right side of this page. In case of questions, please contact us at disclosure@fmo.nl
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 prospective customer?
Amari Power Transmission SMC Limited is a Uganda-incorporated special purpose vehicle that will upgrade the transforming capacity of four high-voltage electricity substations at key points on Uganda’s grid in Tororo, Nkenda, and Mbarara, under the terms of a Transmission Service Agreement with Uganda Electricity Transmission Company Limited, supported by an Implementation Agreement entered into with the Government of the Republic of Uganda, represented by the Ministry of Energy. The Project Company is owned by Gridworks, a subsidiary of British International Investment.
What is our funding objective?
FMO is considering a commitment of USD 40 million senior debt, to be financed USD 30mln from FMO-A and USD 10mln from AEF, as well as a USD 3 million Debt Service Reserve Facility. The Project is an integral part of the government of Uganda’s electrification strategy and will increase transformer capacity, reliability and quality of power serving industrial customers in the Tororo and in Kasese regions and enable additional power exports to Kenya, DRC, and Burundi.
Why do we want to fund this investment?
The Project provides a pioneering opportunity to participate in the first Independent Transmission Project (“ITP”) in Sub Saharan Africa, paving the way for further critical investment in Africa’s energy infrastructure. The Project will allow for greater evacuation of the existing grid generation (lowering the cost of electricity), major economic benefits (providing improved quality of supply to existing and future industrial users) and will support greater renewable energy integration capacity. FMO’s investment aims to support activities that contribute to climate mitigation, contributing to SDG 13, in line with FMO’s methodology to determine green finance attribution. FMO’s investment aims to support activities that contribute to financial flows to LDCs contributing to SDG 10.
What is the Environmental and Social categorization rationale?
This concerns an E&S B categorized investment, as it consists of business activities with potentially limited adverse environmental and social risks and impacts that are few in number, generally site specific, largely reversible, and readily addressed through (well known) mitigation measures. IFC Performance Standards 1-4 are triggered. As the Project works will not extend beyond the current substations’ footprint, Performance Standards 5-8 are not triggered. Main risks identified are Occupational Health and Safety (OHS) and community health and safety through increased noise, dust and traffic during the construction period, as well as a limited number of workers influx, and potential fire risk during both construction and operation.
More investments
| Date | Total FMO financing |
|---|---|
| 10/30/2026 | USD 40.00 MLN |
| 10/30/2026 | USD 3.00 MLN |
- Website customer/investment
- https://gridworkspartners.com/our-portfolio/amari-power-transmission/
- Region
- Africa
- Country
- Uganda
- Sector
- Infrastructure, Manufacturing and Services
- Publication date
- 10/30/2026
- Deadline for feedback
- 11/29/2026
- Total FMO financing
- USD 10.00 MLN
- Funding
- AEF-I
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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