Trinity is pleased to announce that it acted as legal advisors to Access Uganda Solar Limited (“Access”), on its 10MW solar power project in Soroti District, Uganda, which reached financial close on 20th January 2016. This will be Uganda’s first ever grid connected solar PV power plant; construction has begun and the plant should be operational within the next few months.
Access is one of two project developers selected by the Ugandan authorities, together with the “GETFiT” programme, sponsored by KfW, the German development agency, to benefit the GET FiT Solar Facility, a dedicated support scheme for solar PV development.
Lenders for this project were the Dutch development bank FMO, together with the Emerging Africa Infrastructure Fund.
The average tariff for the 10 MW solar PV project over the 20-year operation will be USDc 16.37 per kWh. However, power consumers in Uganda will only pay USDc 11 per kWh throughout the term of the project. The remaining costs will be covered by the GET FiT Solar Facility in form of result-based premium payments per kWh of electricity delivered.