The project was developed under the Global Energy Transfer Feed in Tariff (“GET FiT”), a dedicated support scheme for renewable energy projects managed by Germany’s KfW Development Bank in partnership with Uganda’s Electricity Regulatory Agency (ERA) and funded by the governments of Norway, Germany, the United Kingdom and the European Union. The GET FiT programme helps renewable energy sources become more affordable and therefore more accessible in Eastern Africa.
The US$19 million Soroti Solar Plant is in part funded by the European Union - Africa Infrastructure Trust Fund through the GET FiT Solar Facility equivalent to 8.7 million euros in the form of result-based premium payments per kWh of delivered electricity. The project is financed by a mix of debt and equity with the senior debt facility being provided by FMO, the Netherlands Development Bank, and the Emerging Africa Infrastructure Fund (EAIF).
The inauguration ceremony was attended by Uganda’s Minister of Energy and Minerals Development, who described the project as a case study for the rapid implementation of transformative energy projects. Also in attendance were the CEO of Uganda’s Electricity Regulatory Authority, the Uganda Electricity Transmission Company Ltd (UETCL), Ambassadors from the EU, Germany and the Netherlands, as well as key stakeholders from Access Power and EREN RE; TSK, the contractor who built the plant; FMO and The Emerging Africa Infrastructure Fund (EAIF) as financiers and other key officials.
At the launching ceremony, Hon. Irene Muloni, Minister of Energy and Minerals Development of Uganda, stated that: “As the first solar power plant successfully developed under the GET FiT Facility, the Soroti project is providing a successful and replicable case study for the fast-track implementation of a renewable energy generation project by private developers in Africa. This is not only a key moment for Uganda but for the energy transformation of Africa. Our natural resources are a channel through which we aim to attract inward investment and strengthen our economy.
Linda Broekhuizen, CIO of FMO Dutch development bank, underlines the importance of the project: “FMO is a proud supporter of this project. Renewable energy projects like these are fully in line with our aim to positively affect peoples’ lives by supporting development, creating jobs and providing clean and sustainable energy to Uganda.”
The H.E. Amsassador Kristian Schmidt, European Union Head of Delegation to Uganda said in his speech: "Uganda is a good place to invest in solar energy. The regulatory framework is conducive and Government rightly recognises Uganda's energy future must be renewable. It is great that this is now triggering private sector interest in solar power generation. The European Union is proud that our Euro 8.7m grant contribution ensures the realisation of the Soroti Solar Plant, and I hope this is only just the beginning for many more to come."
David Corchia, CEO, EREN RE, stated: “Soroti solar plant is an excellent textbook example of how collaboration among key local and international stakeholders can result in the successful execution and completion of such a ground breaking project and in tangible progress in the spread of renewable energy across Africa. We wish to express our gratitude and thanks to the organizations and individuals who made the construction of the largest solar power plant in East Africa possible. As a global renewable energy Independent Power Producer we take this opportunity to reaffirm our commitment to the African power sector and we look forward to replicating this model in many other African countries in other districts in Uganda and across the region.”
Reda El Chaar, Executive Chairman, Access Power declared, “We are thrilled to have been given the opportunity to work with our European and Ugandan partners to bring to reality this flagship solar power plant. Soroti raises the bar on what can be achieved through teamwork and we look forward to more collaborative efforts to expand the footprint of clean energy across this mighty continent.”
Oscar Kang’oro, a Non-Executive Director of the Emerging Africa Infrastructure Fund (EAIF) confirms EAIF’s commitment to supporting solar and small hydro power projects in Uganda: “EAIF is fully engaged in Uganda and to date financed 8 renewable energy projects in the country, including Soroti. I particularly want to congratulate Access and EREN on their vision and enterprise. Our funders at the UK government’s DFID, at The Netherlands DGIS, Switzerland’s SECO and Sweden’s SIDA, see the great benefits that small and renewable generating capacity can bring, particularly in rural and semi-rural areas. This can unlock economic potential, create new economic development opportunities, grow the productivity of public services and improve energy security. Most importantly, the arrival in a district of more dependable and more affordable electricity can transform and enhance the lives of many thousands of men, women and children.”
Located on a 33 acre plot of land in Soroti District, the power plant has the potential to increase its net output capacity by a further 20MW of solar energy. At peak construction the plant had over 120 local workers involved, including engineers recruited and trained by Access Power and EREN RE.
Notes to Editors:
Media Contacts:
Access Power
Francesca Boothby / Emerson Clarke at accesspower@fticonsulting.com or call +44(0)203 727 1054
Esemena Ivbijaro at eivbijaro@access-power.com or call +971 56764 5155
EREN RE
Margot Le Guen, margot.LeGuen@eren-re.com or call +33 1 58 97 26 39
Jade Mamarbachi at eren@brunswickgroup.com or call +971 4 446 6270
Agnès Catineau / Guillaume Le Tarnec at eren@brunswickgroup.com or call + 33 1 53 96 83 83
For Uganda Media
WMC Africa
Sharon Kakai sharon@wmcafrica.com or call +256 7822 65153
About Access Power
Access Power was founded in 2012 with the aim of becoming a leading developer, owner and operator of power assest in the emerging markets of Africa and Asia. Access has assembled a project development team with a track record of financially closing around 30GW of power projects across the globe. Access is currently developing renewable energy projects worth more than US$ 1 billion in 20 countries across Africa and Asia. For more information: www.access-power.com
About EREN RE
EREN RE, member of EREN Groupe, was founded in 2012 by Pâris Mouratoglou and David Corchia, both with significant experience in the renewable energy sector. EREN RE develops projects in countries where renewable energy provides an economically viable response to growing power demand. Through partnerships established with local developers, EREN RE has accumulated a portfolio of 450 MW (gross) of renewable energy assets in operation and under construction, and over 1.5 GW of assets under development. For more information: www.eren-groupe.com
About GetFiT
Through the roll-out in Uganda in phase 1 of the program, a portfolio of currently 17 small-scale renewable energy generation projects promoted by private developers with a total installed capacity of roughly 160 MW will be fast-tracked. This will help to add much-needed clean generation capacity, help to strengthen regional grids and result in emissions reductions of up to 11 million tons of CO2. The programme is managed by KfW development bank and supported by the EU and the governments of Germany, Norway and the UK. With every EUR invested through Get Fit, private investment of roughly 4,50 EUR is leveraged.
For more information: www.getfit-uganda.org
About Emerging Africa Infrastructure Fund and the Private Infrastructure Development Group
The Emerging Africa Infrastructure Fund (EAIF) is a member of the donor-funded Private Infrastructure Development Group (PIDG). EAIF provides a variety of debt products to infrastructure projects promoted mainly by private sector businesses in sub-Saharan Africa. Established and funded by the governments of the United Kingdom (DFID), The Netherlands (DGIS), Switzerland (SECO) and Sweden (Sida), the Fund works with private sector companies, African and European banks and other development funds and agencies. It helps create the infrastructure framework that is essential to sustained economic stability, business confidence, job creation and poverty reduction. It has to date supported nearly 60 infrastructure projects across eight sectors in 20 sub-Saharan African countries, investing over US$1.036 billion and mobilising US$9.237 billion of private capital. EAIF is managed by Investec Asset Management. For more information: www.eaif.com, www.pidg.org
About KfW Development Bank
KfW is one of the world´s leading and most experienced promotional banks. Established in 1948 as a public law institution, KfW is owned 80 per cent by the Federal Republic of Germany and 20 per cent by the federal states (“Länder”). KfW Development Bank is Germany’s leading development bank and an integral part of KfW. It carries out Germany´s Financial Cooperation (FC) with developing countries on behalf of the Federal Government. The 600 personnel at headquarters and 370 specialists in its 68 local offices cooperate with partners all over the world. Its goal is to combat poverty, secure the peace, protect the environment and the climate and make globalisation fair.
About the European Union
Energy has been a priority in the portfolio of the European Union’s poverty alleviation and eradication strategies for many years. The EU has taken up this challenge in a systematic and coherent manner. In cooperation with all its international partners, the EU has developed a multi-level approach to face the challenges linked to energy poverty. Over the current financial framework (2014-2020) the EU will allocate more than 3 billion euros grant in support of energy cooperation with partner countries. This will leverage investments between 15 and 30 billion euro in loans and equity investment, thus plugging the gaps in energy infrastructure and power for businesses, schools, homes and hospitals.
