DEG & African Development Bank Lead US$84 Million Loan for Berkeley-backed ARPE (Sub-Saharan Africa)
Posted On: 20 Mar 2017 | Source(s): DEG
ARPE, a Uganda-based power project developer backed by emerging markets-focused fund manager Berkeley Energy and Italy-based construction company PAC, has received a US$84 million loan package to support the construction of a 42-megawatt hydroelectric plant in the Pader district of northern Uganda. The African Development Bank will commit US$19 million and a consortium of European development finance institutions led by DEG will provide the remaining US$65 million, of which DEG will contribute US$25 million. The consortium includes the Evangelical Bank-advised European Renewable Energy Fund for Emerging Markets (EREFEM), Belgian Investment Company for Developing Countries (BIO), the OPEC Fund for International Development (OFID) and the Emerging Africa Infrastructure Fund (EAIF), a joint public-private investment fund owned by the Private Infrastructure Development Group and managed by Investec Asset Management.