Quick Facts

Where the impacts of the investment may be experienced.
  • Uganda
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Active
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.
Board Decision Date: 2016-04-15
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 or Client: Lubilia Kawembe Hydro Limited
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Amount (USD): $ 10.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2018-01-11

Project Description
WHO IS OUR CLIENT The client is Lubilia Kawembe Hydro Limited, a SPV set up to develop, construct and operate a 5.4MW run-of-river hydro plant in the Kasese district in Western Uganda. Lubilia is majority owned by DI Frontier Market Energy and Carbon Fund K/S Fund, a Danish private equity fund that is developing a portfolio of renewable energy IPPs in eastern Africa. DI Frontier is currently developing four run of river hydros, one of which is Lubilia, in Uganda under the KfW led GETFiT program. FUNDING OBJECTIVE FMO provides a USD 10.2 million senior loan, of which 50 percent has been catalyzed from Emerging Africa Infrastructure Fund ("EAIF"). The loan facility will be used for the construction of the Lubilia hydro plant. WHY WE FUND THIS PROJECT FMO finances this small, run of the river hydro power plant in Uganda to support the development and construction of additional renewable electricity generation in Uganda. The project is expected to generate 21 GWh clean energy per year, and will support strengthening of Ugandaa€™s grid in the west of the country. The electricity produced will serve the equivalent of 256,000 people and has an annual avoided GHG rate of 11,000 tCO2eq. The project coincides with FMOa€™s strategy to contribute to clean energy projects in emerging markets. In line with this strategy, FMO also catalyzes funds from EAIF.
Investment Description
Contact Information
FMO South Africa +27 11 507 2500 joburg-office@fmo.nl
Bank Documents