While Dutch development bank, arranged a $14,7m senior loan for the financing of the project, of which 50% was syndicated to the Emerging Africa Infrastructure Fund (EAIF). Uganda’s upcoming Tororo Solar Energy project will provide 10 MW of power and will be constructed with a budget of $14.7m. Uganda averages an electric consumption rate of 18.2%, with a lack of consistent and affordable electrical supply hindering the country’s growth. The plant will be developed and owned by multinational energy company Building Energy, using the funding provided by the Dutch development bank FMO. “Construction is expected to start in early 2016 and it should take about two years for the first phase to come online at full capacity,” said Peter van der Linden, CEO of Building Energy.
Uganda’s upcoming Tororo Solar Energy project will provide 10 MW of power and will be constructed with a budget of $14.7m. Uganda averages an electric consumption rate of 18.2%, with a lack of consistent and affordable electrical supply hindering the country’s growth. The plant will be developed and owned by multinational energy company Building Energy, using the funding provided by the Dutch development bank FMO. “Construction is expected to start in early 2016 and it should take about two years for the first phase to come online at full capacity,” said Peter van der Linden, CEO of Building Energy.