The EEP programme partially funded project Gigawatt Global successfully closed on $23.7 million in financing on an 8.5 MW solar photovoltaic power plant from an international consortium of equity investors and debt providers including Norway’s development finance institution Norfund, Dutch development bank FMO (which arranged the senior debt package), the Emerging Africa Infrastructure Fund (EAIF), and Norwegian-headquartered Scatec Solar.
The project was partially funded through grants from the Energy and Environment Partnership (EEP) Programme, a partnership of the British, Finnish and Austrian governments and the United States Government via the Overseas Private Investment Corporation’s (OPIC) ACEF Grant. The project, East Africa’s first utility-scale solar field, will increase the Rwanda’s power generation capacity by approximately 8%.