CI1 has invested in the construction of a 42 MW run-of-river hydropower project in Uganda (Achwa 1).
Our Development Partner 

Berkeley Energy, PAC SpA

We Invest

USD 0.65
million

Development Fund funding

USD 75
million

Expected Construction Equity Fund Investment

Estimated Project Impact
  • 112 MW  additional capacity
  • 193 GWh/year clean electricity
  • 99 100 tCO2eq/year emissions avoided
  • 350 construction jobs 
  • 575 000 people reached 

Funding Rationale 

The investment presents an attractive opportunity for the following reasons:
  • The project will support the national goals of Uganda as expressed in their UNFCCC Intended Nationally Determined Contribution (INDC).
  • Uganda has one of the most progressive regulatory structures for renewable energy investments in Sub-Saharan Africa.
  • Hydro solution provides base load characteristics which fit well in Uganda’s generation strategy.
  • Opportunity to team up with leading renewable energy developer Berkeley Energy.
  • The inclusion of CI1 will allow the sponsors to bring the Achwa 1 project to an expedited financial close through an all-equity solution.
Contract Signature
Date

February 2019

Expected Commercial
Operations Date

2020

Region 

Africa

Country

Uganda

Business Model 

IPP

Technology  

Run-of-River Hydro

Environmental & Social Category

B+

Sector

Wind

E&S Context

The environmental and social risk (“E&S”) of the project has been classified as category B+ (in accordance with CIO’s risk categorisation) which is equivalent to International Finance
Corporation (IFC) Category B.
The main E&S impacts and risks relate to community and occupational health and safety during of the access road and biodiversity protection. The Project has triggered IFC Performance Standards (PS) 1-6. There are no indigenous peoples (IFC PS7) in the project area of influence and IFC PS8 (cultural heritage) is not triggered beyond the standard ‘chance find’ procedural requirement.
An ESIA (including an ESMP) has been prepared in line with the IFC Performance Standards. Dedicated community liaison is ongoing and a community development action plan is in place.

Disclosures 

Here you can find and download all the relevant disclosure documents for this project: