GET FiT Premium Payment Mechanism
- Region
- Eastern Africa
- Sector
- Energy
- Scope
- IG
- Grant Amount
- EUR 20,000,000
- Total project cost
- EUR 427,600,000
- Status
- Under disbursement
- PFG Lead Financier
- KfW
The main objective of the GET FiT Program is to assist East African nations in pursuing a climate resilient low-carbon development path resulting in growth, poverty reduction and climate change mitigation. The roll-out of the program will start in Uganda in Phase 1 and is intended to fast-track a portfolio of currently 17 small-scale RE generation projects promoted by private developers with a total installed capacity of currently roughly 150 MW and approximately 800 GWh production p.a., transforming Uganda’s energy mix within a period of 3-5 years. In addition, through the EU-AITF funding, the first grid-connected solar PV projects are to be facilitated, providing an additional generation capacity of approximately 20 MWp/30 GWh.
The EU-AITF SE4ALL Investment Grant of EUR 20 million will be used to make small-scale renewable energy generation projects − between 1 MW and 20 MW installed capacity − financially viable. It will co-finance a Premium Payment Mechanism, which will enable such projects to reach financial close and implementation. The payment of this premium will increase the regulated feed-in tariff to a sustainable level and support, in particular, the Solar Facility with the aim of introducing the first grid-connected solar PV plants to Uganda. The first solar plant was commissioned in November 2016, the second plant in September 2017.
Press article 16.11.14 - Uganda top in attracting renewable energy investors
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