European Union has launched the ElectriFI facility that will further improve access to finance in the Ugandan renewable energy sector.
ElectriFi is an impact fund bridging the financial gap in terms of equity, quasi-equity and debt to private companies investing in rural electrification, commercial and industrial captive power, productive use of energy, e-mobility and independent power producers, amongst others.
Established in partnership with European Union Delegations and host governments, ElectriFI Country Windows offer dedicated funding for selected countries, in line with national objectives.
In December 2020, the EU and EDFI ElectriFI agreed on establishing a dedicated ElectriFI Country Window for Uganda, with a specific funding package of EUR 5 million (Shs18.5 billion), to be invested in renewable energy companies active in Uganda.
“Today’s launch of the Uganda Country Window will enable Uganda’s capacity to usher in its electricity generating potential and step up its efforts to mobilise renewable energy resources while tapping into private sector funding. This support provided by the European Union will contribute to Uganda’s efforts to unlock significant economic, social and environmental development opportunities and to tackle various challenges such as loss of forests, biodiversity and soil fertility due to the massive use of charcoal,” said Lennart Deridder, Acting Head of Cooperation EU Delegation.
In the last five years the EU has set up a programme to support Uganda’s energy sector worth more than 100 million EUR that, with a Team Europe Approach together with its Member States, has leveraged an additional one billion EUR.
EDFI ElectriFI, the EU Electrification Financing Initiative, is a facility that is funded by the European Union and it invests in projects providing access to reliable, affordable and sustainable electricity and energy services in developing countries.
EDFI ElectriFI is managed by EDFI Management Company on behalf of the 15 European Development Finance Institutions (DFI).
