Supporting renewable energy projects in Uganda with long-term loans

Over the past years, the Private Infrastructure Development Group’s (PIDG) Emerging Africa Infrastructure Fund (EAIF) has supported over 10 renewable energy projects in Uganda with long-term loans, whether as the sole lender or co-financed with Development Finance Institutions (DFIs). Investments to date include: - US$27 million loan to Kikagati Power Company Limited (KPCL), the developer of a hydroelectricity generating station in 2019 (co-financed with FMO) - US$10.6 million loan over 17 years to Serengeti Energy, the developer of the Nyamwamba ll hydroelectricity plant in 2022 (EAIF as the sole lender) - US$19 million loan to a new 20MW solar PV project for one of the most remote and underserved regions in north-western Uganda, concluded during COP28 in 2023 These examples highlight the potential for developing deep capabilities in specific sectors and geographies to unlock replicability and scale. They also underscore the technical and financial viability of low-carbon and climate-resilient infrastructure in emerging markets and developing countries in Africa and Asia.