ACCESS UGANDA SOLAR LTD. (FMO-44956)

Countries
  • Uganda
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 27, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
ACCESS UGANDA SOLAR LTD.
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 5.35 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 13, 2018


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Project Description

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.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.