ELGON HYDRO SITI (PVT) LIMITED
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The client is Elgon Hydro Siti PVT Ltd, a Uganda based company which holds the Siti 1 Hydropower project as its sole asset. The shareholders in Elgon Hydro Siti are DI Frontier Market Energy & Carbon Fund and VS Hydro who will construct and operate the project.
What is our funding objective?
The purpose of the funding is to finance the construction of the 5 MW Gulpur Hydropower project, a greenfield run of river hydro. Construction is scheduled to last for two years, once commissioned the Siti 1 Hydropower project will provide 22.5 GWh of clean energy annually.
Why do we fund this investment?
FMO provides funding to the Gulpur Hydropower project to support the development and construction of additional renewable electricity generation in Uganda. The Siti 1 project will provide 5 MW of additional capacity and will extend Uganda's electricity grid in the east of the country. The Siti 1 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. The Siti 1 project is one of the first projects to be contracted under this program.
More investments
| Date | Total FMO financing |
|---|---|
| 9/19/2016 | USD 11.95 MLN |
- Website customer/investment
- http://www.frontier.dk
- Region
- Africa
- Country
- Uganda
- Sector
- Energy
- Effective date
- 6/25/2015
- Total FMO financing
- USD 5.30 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+