Over USD400 million in green investment commitments have been announced for Uganda at the #COP28 in Dubai. These current and committed investments, according to Morris Rwakakamba, the Uganda Investment Authority (UIA) Chairman, will over the next four years, cover renewable energy, water filtration and forestry.
These projects include:
- 24+ off-grid mini-grids by Mandulis Energy: Mandulis Energy develops renewable energy infrastructure using innovative technology that converts agricultural waste into low-carbon electricity and biogas for households and small businesses. The company is to develop 24+ off-grid mini-grids across rural Uganda, each at 0.5MW (scaling to 2MW), to power agricultural processing facilities to serve over 120,000 farmers in low-income communities.
- USD80-USD100 million into clean water by Spouts International: Spouts International, according to Rwakakamba, has invested around USD10 million so far and employs 450 people. The Uganda-based company that is the largest manufacturer of ceramic water filters in Africa now plans to invest an extra USD80-USD100m in the next 4 years. This will expand its current reach from 200,000 households to 6 million households by 2030.
- USD100 million into nature-based carbon removal by 1MTN: 1MTN is a high-quality nature-based carbon removal project developer in Africa. 1 MTN is on a mission to restore 1 million hectares of degraded land by 2030 through planting polyculture native bamboo with an emphasis on biodiversity management. 1MTN has so-far invested USD1.5M and planned investment of USD100M in the next 4 years.
- USD 10 million solar Plant in Nakaseke District by Nexus Green: Nexus Green Ltd is a Uganda-based solar energy company that aims to deliver affordable solar-powered solutions & cleaner energy to Africa! It specializes in designing, supplying, manufacturing and delivering affordable solar-powered solutions. Its mission is to reduce carbon emissions by providing affordable and cleaner energy that will empower nations to thrive.
Nexus Green is implementing a USD100 million solar water project for the government of Uganda. Approximately 400 solar-powered water irrigation sites across the country that will benefit at least 25,000 farming households in water-stressed areas across Uganda. 5,000 households in rural areas will also get access to clean drinking and cooking water while an average of 15,000 people will gain access to urban water supply.
The company is also in the advanced stages of putting up a USD10 million solar products factory in Kapeeka Industrial Park in Nakaseke District that will directly employ 200 people and 1000 indirectly.
“There are many more green investors who have been licensed by Uganda Investment Authority (UIA) and have commenced operations and are at different stages of project development and execution,” Rwakakamba said.
During the #COP28, the Uganda National Oil Company (UNOC) also confirmed plans to plant 4 million trees as part of its carbon-neutral operation which will also include heating its pipeline with solar energy and building green infrastructure at its Kabalega Industrial Park.