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A 10MW geothermal project in Uganda

Country Uganda
Sector Renewable energy
Technology Area Geothermal
Stage Greenfield project
Total fund ask 10M+
Security / preferred instruments Senior debt, Sub-ordinated debt
The company is currently engaged in the project development of the proposed geothermal energy project under an exploration licence. A Permit from the regulator to complete feasibility studies has been granted following which the developer has applied for a licence to commence drilling and construction of a geothermal power plant.

A Power Purchase Agreement (PPA) has been signed to connect the 10MW generated to the national grid. Next steps for the project include finalising due diligence to onboard investors, providing both equity and debt financing. Start of operation is estimated for Q4 2024.