On February 24th, 2014, GET FiT and KfW organized the first round table for renewable energy project finance and commercial bank participation in Uganda. In the presence of investment officers from all major Ugandan banks and DFI representatives, opportunities and challenges of renewable energy project finance were presented and subsequently discussed.
Commercial banks will play a pivotal role for the financial sustainability of the Ugandan renewable sector in the near future. Challenges include a lack of awareness for financing opportunities as well as a lack of project due diligence experience in the sector. However, as DFI representatives and Mr. Richard Onyango (Stanbic Johannesburg/Nairobi) pointed out that concentrated efforts and international and inter-organizational cooperation could lead to a quick ramping up of skills and a bigger commercial bank involvement. ERA CEO Dr. Benon Mutumbi underscored his authority´s recent achievements in context of creating investment secuirty and his further dedication to support this development in the future.
The Ugandan Energy Credit Capitalization Company (UECCC) has launched a call for applications for their support facility for small-scale renewable energy projects in Uganda. These Early Stage Transaction Advisory Services will support up to 15 eligible RE projects in various fields of project development. For more information, please click here.
The World Bank has published the Project Information Document (PID) on their IDA Partial Risk Guarantee offering under the GET FiT Uganda program.
For information on available guarantee components and implementation schedules, please download the PID document here.
The Standardized PPA under the GET FiT program has been published by UETCL after approval through the relavant authorities. By streamlining the power purchase agreements, transaction costs for developers under the REFiT will be significantly reduced, offtaker and regulatory risk mitigated and, hence, privat investment incentivized.
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GET FiT welcomes the EU-Africa Infrastructure Trust Fund (ITF) as new development partner. EU ITF funds will primarily be allocated for the GET FiT Solar / PV tender component.
For more information, please click here.