KIKAGATI POWER COMPANY LTD (FMO-52073)

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
A
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
Feb 14, 2019
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
Kikagati Power Company Limited
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 Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 26.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 26.80 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 Mar 2, 2019


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Project Description

The project aims at the development and construction of the 14MW Kikagati hydro plant. FMO is the lead arranger for the approximately USD 48 mln senior debt tranche. FMO intends to provide 50% itself, and catalyse 50% from Emerging Africa Infrastructure Fund ("EAIF") managed by Investec. The project is expected to have a high development impact. It is the first cross border Independent Power Producer ("IPP") Project between Uganda and Tanzania, which will support the economic development of both countries, especially the underserved regions where the Project is located, and promote further integration of the East African Power Pool. The project is expected to generate around 113 GWh clean energy per year, serving the equivalent of 233,489 people and has an annual avoided GHG rate of 48,506tCO2eq. Half of the electricity generated by the Project will be provided to Tanzania. 

 

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors
  • Kikagati Power Company Limited -- Implementing Company

Kikagati Power Company Limited (“KPCL”), a special purpose vehicle established to develop, construct and operate a 14MW run-of-river hydro power plant located on the Kagera river in the south west of Uganda (65km south of the city Mbarara).

Contact Information

No contact information provided at the time of disclosure

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