Achwa I Hydroelectric Power Plant (42MW)

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The project comprises a support of the operations of Achwa 1 Hydro Power plant, located in Pader District in Northern Uganda. The project sponsor company is Berkeley Energy with a project operator company ARPE Limited (“ARPE”). Achwa 1 was financed using short term bridge loans maturing between 2024 and 2026. The present financing for the short-term bridge loans will resolve the debt, keep the project operational and preserve the long-term financial sustainability of ARPE. The company is receiving a long-term loan totaling $95m, as German Investment Corporation (DEG) is providing $30m and is arranging a total of $65m from the African Development Bank Group ($21.45m), BIO - the Belgian Investment Company for Developing Countries ($12m), OPEC Fund ($25m) and the Emerging Africa & Asia Infrastructure Fund (EAIF) ($6.55m estimated). ARPE’s shareholders are the Africa Renewable Energy Fund managed by Berkeley Energy, and SIPA Holdings. The funding has been signed on 29 Jul 2024. Key development outcomes expected include: preserve an essential input for businesses by sustaining an annual electricity generation of about 193.1 GWh and resulting in increased electricity supply to enterprises in Northern Uganda; support electricity supply to potentially 280,000 people in rural and underserved areas; sustain the contribution to CO2 emissions avoidance. https://www.linkedin.com/posts/deg_hydropower-renewable-electrification-activity-7229426198542516225-OHH7/ ; https://opecfund.org/operations/list/achwa-i-42mw-hydroelectric-power-plant ; https://www.bio-invest.be/en/investments/arpe-ltd-2 ; https://www.linkedin.com/posts/deg_hydropower-renewable-electrification-activity-7229426198542516225-OHH7/ ; https://opecfund.org/operations/list/achwa-i-42mw-hydroelectric-power-plant ; https://www.bio-invest.be/en/investments/arpe-ltd-2 ;