Uganda: Bugoye refinancing


Issue 351 - 28 Jul 2017 | 1 minute read

The Emerging Africa Infrastructure Fund (EAIF) and Dutch development bank FMO are jointly lending $29.3m of senior debt with a 12-year term to refinance the 13MW Bugoye hydroelectric power plant in western Uganda. The refinancing agreements were signed on 13 July, with financial close expected around four weeks later. Proceeds from the refinancing will be used to repay EAIF the balance of its original loan to the project, fund repair work and repay construction loans made by the project sponsor, the Africa Renewable Energy Fund (Aref), managed by Berkeley Energy.

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