Soroti Solar Power Plant

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Soroti Solar Power Plant entails the development and construction of a 10 MW solar power generating facility in Soroti district, Eastern Uganda. The project will also construct a 3 km, 33kV transmission line to feed power into the Ugandan national grid. It will provide 40,000 homes, schools and businesses in the area with low-carbon and sustainable power. Access Uganda Solar Limited ("Project company") will implement the project on behalf of the sponsors - Access Power MEA and Eren Group. The electricity generated by the facility will be sold at $0.1637 per kWh for 20 years under a PPA contract to Uganda Electricity Transmission Company Limited backed by a sovereign guarantee from the GoU. The electricity tariff will only cover $0.11 of this payment to the plant owner, with the rest covered by the GET FiT facility through result-based premium payments. The project achieved financial close on 19th of January 2016. The financing package represents 75 percent debt and 25 per cent sponsors' equity contributions, amounting to $3.56 million. The Netherlands Development Finance Company (FMO) provided the $10.7 million term loan, which has a maturity of 17 years. The Netherlands development bank, FMO, arranged and structured the transaction. EAIF contributed $5.35 million to FMO’s total loan. http://www.pv-magazine.com/news/details/beitrag/construction-set-to-begin-on-10-mw-solar-plant-in-uganda_100023263/#axzz4HO2GATJu https://ijglobal.com/data/transaction/32670/soroti-solar-power-plant-10mw http://eaif.com/news-media/view/who-we-benefit http://www.pidg.org/impact/case-studies/uganda-access-uganda-solar-access-soroti a joint venture between Dubai based Access MEA and Luxemburg based Eren Renewable Energy (EREN RE) PPA 20 years