Access Power MEA, a power project developer focused on the Middle East and Africa, has been awarded the contract to develop Uganda’s first solar power plant. Through its subsidiary Access Uganda Solar Limited the company will build, own and operate the 10 MWp solar photovoltaic (“PV”) facility in Soroti, Northeastern Uganda. Once complete, the plant will generate over 18 million KWh per year, providing sustainable energy for more than 40,000 Ugandan households.
Following a competitive bidding process during which 7 offers were received, the project proposed by Access has been selected to benefit from the GET FiT Solar Facility, a dedicated support scheme for solar PV developments managed by KfW the German Development Bank on behalf of the Ugandan Government and funded by the European Union Infrastructure Trust Fund.
“We are delighted to have the opportunity to make a significant contribution to thousands of households in Uganda. The GET FiT program is a fine practical example of additionality that accelerates private investment into a sector with high developmental impact,” said Reda El Chaar, Chairman of Access Power MEA.
Stephane Bontemps, Managing Director of Access Power MEA said: “The US$17 million project will be the largest solar Independent Power Project in Sub-Saharan Africa excluding South Africa. The project is expected to reach financial close in June 2015 and commence commercial operations by December 2015. The tariff for the project over the period of 20 years will be USDc 16.38per kWh. However, the end users in Uganda will only pay USDc 11 per kWh through the electricity tariff while the remaining cost will be paid by the GET FiT Solar Facility.” (VENTURES AFRICA)