Metier-backed Sindila Hydropower Project Starts Construction (Sub-Saharan Africa)
Posted On: 20 Feb 2017 | Source: Metier
The Sindila hydropower project, a Uganda-based 5.25 megawatt run-of-river project, reached financial close on 30 January 2017 and commenced construction. The project’s shareholders include private equity and alternative asset fund manager Metier, developer KMRI, concessions and investment company WK Power and Fieldstone Africa Investment Resources, while development finance institution OPIC provided debt. Metier invested through Lereko Metier Sustainable Capital. Sindila also received financial support from the Seed Capital Assistance Facility of the United Nations Environment Programme. The project, which will sell power to the Uganda Electricity Transmission Company under a 20-year power purchase agreement, is expected to begin generating electricity in September 2018.