Page 10 - AfrElec Week 31 2022
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Uganda to secure $600mn loan
from World Bank for electricity
connectivity project
UGANDA UGANDA’S cabinet looks set to approve taking has a current installed capacity of 1,378.1MW
a $600mn loan from the World Bank to fund a with available power at 900MW and estimated
raft of projects to increase access to energy for consumption at only 800MW. According to
households, commercial enterprises, industrial the Electricity Regulatory Authority, the plan
parks and public institutions. is to boost its electricity generation 12-fold to
The country has the surplus power to connect 17,000MW in the medium term and export the
more people to the grid, Energy Minister Ruth suprlus.
Nankabirwa said, but needs to borrow funds to The government has said it aims to increase
buy the necessary equipment for the Electricity hydropower generation to 90% of the energy
Access Scale-up Project (EASP). mix by 2030 from the current 78%. However,
“The [World Bank] loan has been passed that ratio could change, as Uganda announced
through the necessary preliminary require- in May it had acquired land for the construction
ments, and the Ministry of Finance is now going of a nuclear power plant (NPP).
to table that paper before Cabinet at any time,” Following a visit in late July by Russian
she said, as quoted by The Monitor, noting that Foreign Minister Sergei Lavrov, who was on a
Uganda had initially sought a loan of $400mn four-nation tour of Africa, President Yoweri
but later negotiated the increased sum due to Museveni said the country is now seeking Rus-
rising demand for electricity. sian assistance to develop an NPP.
Uganda, which largely relies on hydropower,
P10 www. NEWSBASE .com Week 31 04•August•2022
