Mubuga solar PV plant

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The project involves the construction of a 7.5 MW solar PV plant in Mubuga, Burundi. The facility's output will be purchased by Burundi's state-owned utility Regie de Production et Distribution d'Eau et d'Electricite (Regideso) under a 25-year PPA. The total value of the project is USD15.7 million. Funding was provided by a matching construction bridge loan and equity investment from Evolution II Fund, managed by Inspired Evolution Investment Management, and further equity funding by the project developer and co-sponsor, Gigawatt Global Coöperatief. REPP has been supporting the project with development capital since December 2016, and has now committed to provide a construction bridge loan. Upon or after the project’s commercial operations date, part of REPP’s construction bridge loan will be refinanced as a 10-year subordinated loan. The plant was also backed by Africa Trade Insurance Agency (ATI), the U.S. Development Finance Corporation (DFC, formerly the Overseas Private Investment Corporation, or OPIC), the Energy and Environment Partnership (a Finland, UK, Austrian fund) and the Belgian Investment Company for Developing countries (BIO), as well as the US AID's Power Africa initiative. The plant will supply the electricity needs of at least 87,600 people and businesses, and provide 300 part-time jobs during construction and up to 50 full-time jobs during the operational phase. Construction of the plant started in January 2020. https://gigawattglobal.com/projects3/burundi/ https://gigawattglobal.com/2020/01/26/gigawatt-global-begins-full-construction-on-burundis-first-private-sector-grid-connected-solar-field/ https://repp.energy/project/mubuga-burundi/ https://www.dfc.gov/sites/default/files/2019-08/9000052804.pdf http://www.ati-aca.org/blog/atis-renewable-energy-facility-backs-the-largest-private-investment-in-burundis-energy-sector-in-decades/ https://www.camco.energy/mubuga-burundi/ https://solyntaenergy.com/2020/02/04/mubuga-solar-plant-becomes-the-first-grid-connected-project-by-an-independent-power-producer-in-burundi/