Uganda: FMO loan for Lubilia hydro

The Netherlands’ FMO on 15 April announced a $10.2m senior loan for the development and construction of a 5.4MW run-of-river hydropower project in western Uganda. The project will be developed and owned by Lubilia Kawembe Hydro Ltd, which is majority owned by Frontier Market Energy & Carbon Fund K/S, a Danish private equity fund developing a portfolio of renewable energy independent power producers in East Africa. FMO acted as mandated lead arranger of the facility, of which 50% was syndicated to the Emerging Africa Infrastructure Fund.