EIAF renewable energy projects achieve milestones in Mozambique and Uganda

Investec Asset Management’s Emerging Africa Infrastructure Fund (EAIF) has announced two renewable energy projects that will produce a total of 54MW of clean power have celebrated important milestones.

  • Mozambique’s president declares Mocuba solar plant open
  • Financial close reached for new Uganda-Tanzania Kikagati hydropower project

On 10th August, Mozambique’s President, His Excellency Filipe Jacinto Nyusi, declared open the 40MW Central Solar de Mocuba (CESOM) solar power plant.

On 7th August the 14MW Kikagati hydropower station being built on the border between Uganda and Tanzania reached financial close, meaning that the first tranche of debt funding has been released to the Kikagati Power Company (KPC), which will own and operate the plant when construction is complete.

EAIF, which is a PIDG company, specialises in providing high-value long-term loans to private sector infrastructure projects in Africa. It draws its funds from the governments of the UK, The Netherlands, Sweden and Switzerland and private banks and financial institutions.

EAIF Executive Director, Emilio Cattaneo, says; “CESOM is our first renewable energy project in Mozambique. Kikagati hydropower station is the 10threnewable energy plant that the EAIF has supported in Uganda. EAIF was a pioneer in financing private sector renewable energy projects in Africa. We are helping companies and countries stimulate long-term economic development impact on business growth, jobs and skills and contributing to weakening the grip of poverty on communities.”

 

Source: Avca-Africa

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