- ATIDI will support the project through its Regional Liquidity Support Facility by providing payment guarantees for the Ugandan national power utility.
- The firm announced the partnership during a signing ceremony on the margins of COP28.
African Trade & Investment Development Insurance (ATIDI) announced its plans to support the 20 megawatts Ituka West Nile Uganda Ltd solar project. The project was developed by AMEA Power, a Dubai-based Independent Power Producer (IPP). ATIDI will support the project via its Regional Liquidity Support Facility (RLSF). In addition, it aims to achieve this by providing payment guarantees for the benefit of the project for the Uganda Electricity Transmission Company Limited (UETCL).
They announced the partnership during a signing ceremony on the margins of the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) in Dubai. The agreement underscores ATIDI’s commitment to risk mitigation and project resilience in the dynamic landscape of sustainable energy. Regarding the deal, ATIDI’s CEO, Manuel Moses, thanked AMEA Power for serving as catalysts for energy independence in Uganda.
“At ATIDI, we believe in fostering sustainable development, and one crucial avenue is supporting IPPs who propel diversification of Africa’s energy mix. Over the past years, Uganda has demonstrated remarkable strides in its energy sector, and we are proud to play a role in this transformative journey. Our recent collaboration with IPPs in Uganda is not just about power generation. It’s about empowering communities, driving economic growth, and fostering a sustainable future,” he added.
Uganda has made positive progress in increasing electricity access rates, with annual increases of 3% between 2010 and 2020. The electricity access rate currently stands at 42%, a notable improvement from the national access rate of only 12% in 2010. The national installed capacity is 1,346 MW, the bulk of this being from hydro-powered projects. This leaves the country vulnerable to the negative impacts of climate change in the event of any prolonged drought, resulting in poor electricity generation.