Kikagati Power Company reaches financial close for 16 MW hydropower project

Kikagati Power Company has achieved financial close for the US$87 million hydropower project located the Kagera River between Uganda and Tanzania. 

Emerging Africa Infrastructure Fund (EAIF) and the Dutch development bank, FMO, has committed US$27 million each for the project at 16-years loan term. The project is also backed by the Africa Renewable Energy Fund. The plant will benefit from the “GetFiT” program, which is funded by a number of European governments and the EU. GetFiT funding brings down the average cost of power to consumers.

The energy produced from the 16 MW Kikagati hydropower project will be sold to Uganda Electricity Transmission Company Limited.