Ugandans asked to invest in renewable energy

By John Odyek

Ugandans have been called to take up the many opportunities in the renewable energy sector.

The Uganda Energy Credit Capitalisation Company (UECCC) is in place to facilitate investments in Uganda's high-potential renewable energy Sector.

With support from the Government of Germany through Kfw - the German Development Bank, UECCC is offering early stage transaction advisory services. The overall budget is Euro 1.5m.

This is to be used to support early stage transaction advisory services for a pipeline of about 15 renewable energy power generation projects. The transaction advisory services will be provided by Lahmeyer International GmbH.

Officials from UECCC said local investors should identify opportunities in the sector approach the Electricity Regulatory Authority for licenses and seek funding from UECCC.

UECCC's obligation is to provide a reliable framework for pooling resources from Government, Investors and development partners and to channel the same to viable renewable energy projects.

The company's main objective is to provide financial, technical and other support for renewable energy infrastructure development in Uganda, with particular focus to enabling private sector participation.

In this regard, UECCC provides technical assistance and new financing options to facilitate private sector led energy projects.

Private sector renewable energy project developers with Hydro, Solar, Biomass and Wind Generation projects with capacities ranging from 1 MW -20 MW are invited to apply to the UECCC specifying the transaction advisory services for which support is required.