Rwimi EP Company
The Rwimi project is a small hydro power located in Western Uganda.
Amount
€ 9,426,443.00
Type of investment
Debt
Development impacts
- Local economic growth
- Private sector consolidation/innovation
- Access to basic services & goods
- Fight against climate change and preservation of natural resources
- Promotion of ESG best practices
Beneficiary locations
Investment field
Infrastructure
Activity
Energy : hydropower
Organisation
Rwimi EP Company
Domicile
The project has been developed by Eco Power Holding Ltd, a Sri Lankan company with 10 small hydro power plants in operations in Sri Lanka and another one in Uganda commissioned in 2011 (Ishasha). The energy offtaker will be the national transmission company, UETCL (Ugandan Energy Transmission Company Ltd).
Since the early 2000’s, Uganda has a positive experience with Independent Power Producers (IPPs) and the government of Uganda has recently developed an efficient initiative favoring the development of small-scale renewable energy private projects. This GETFiT program is funded by international donors under the coordination of KfW and proposes a top-up payment on the standard Feed-in-Tariffs agreed by the Ugandan government. The Rwimi project is one of 7 projects to have been selected by the GETFiT program.
Development impacts
-
Local economic growth
Commercial and industrial enterprises consume two-thirds of the electricity in Uganda and electricity supply is seen as one of the most important factors affecting business of large, medium and small enterprises.
-
Private sector consolidation/innovation
The additional energy will indirectly contribute to the Uganda growth rate and further expansion of the energy national grid in underserved regions.
-
Access to basic services & goods
Energy (28 gwh/year)
-
Fight against climate change and preservation of natural resources
The renewable energy will limit the CO2 emissions of the country by approximately 17,000 tons.
-
Promotion of ESG best practices
Very stringent standards in place - efforts led by Norfund.
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Financial Institutions
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4,118,275.00
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Africa Renewable Energy Fund
8,896,000.00
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8,868,980.00
Burundi, Ethiopia, Kenya, Malawi, Mozambique, Rwanda, South Africa, Tanzania, Uganda, Zambia
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Zoscales Fund I
4,169,100.00
Ethiopia, Kenya, Rwanda, Tanzania, Uganda
18/04/2019
Equity
