Quick Facts

Where the impacts of the investment may be experienced.
  • Africa
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: Not Disclosed
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.
Borrower or Client: Rwenzori Hydro (PVT) Ltd
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): $ 25.20 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: 2017-09-17
Disclosure Date: 2017-06-20

Project Description
Rwenzori Hydro (PVT) Ltd is a special purpose vehicle incorporated in Uganda to develop, construct and operate a 15MW run-of-river hydro power plant. The project is developed in parallel to the adjacent downstream 6MW Nyamaghasani 2 project. Rwenzori Hydro is in majority owned by a private equity fund managed by Frontier Investment Management Company from Denmark. The funding is targeted towards the development and construction of the 15MW Nyamagasani I run-of-the-river hydro plant. FMO is the lead arranger for the approximately USD 25 mln senior debt tranche. FMO intends to provide USD 15 mln itself, and catalyze USD 10 mln from another party. The transaction is expected to have a high development impact. It will support the economic development of Uganda and the region. The project is expected to generate 62 GWh clean energy per year, serving the equivalent of 157,580 people and has an annual avoided GHG rate of 32,736 tCO2eq. Uganda is a rapidly growing economy, but suffered from historic underinvestment in the power sector. In Uganda this is among others being addressed by the capacity addition targeted under the GET FiT program. FMO is additional in this transaction by providing debt with a 15y tenor, which is not available on the market in East Africa.
Investment Description
Bank Documents