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Ugandan hydro project wins clean energy award

The 8 MW Kakaka project in western Uganda is one of two clean energy projects selected as winners of the Climate Technology Initiative's (CTI) Private Financing Advisory Network's (PFAN) Clean Energy Financing Award 2010.
This US$18 million project is seeking $6 million in equity and $12 million in long-term debt. The plan was promoted by Greenewus Energy Africa Ltd. based in Uganda.

The other award winner was Barefoot Power Company, which distributes solar-charged LED lights and electrical products to the rural poor in Africa.

The winners will receive one-on-one coaching on progressing their business plans toward financial close, accessing investors, and deal facilitation. These projects will be showcased at other forums and events hosted by CTI PFAN and the AFRICEF sponsors and co-organizers.

More than 65 businesses submitted their proposals for review. Nine projects that could reduce greenhouse gas emissions by about 500,000 metric tons a year were presented to investors at the CTI PFAN African Forum for Clean Energy Financing (AFRICEF) in September.

AFRICEF was sponsored by CTI, the Renewable Energy & Energy Efficiency Partnership (REEEP), the U.S. Agency for International Development (USAID), and the International Center for Environmental Technology Transfer of Japan.

Additional information:
News date: 01/01/2011

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