SIMEST supports renewable energy project in Uganda

(AGI) Rome, June 15 - The Italian association for companies abroad (SIMEST) brings renewable energy to Uganda, supporting with its own resources the international expansion of the construction company PAC SpA, active for 40 years in the energy sector. SIMEST will take a 40 percent share (4.25 million euros) in a company set up in Uganda by PAC SpA, which will be engaged with the African Renewable Energy Fund in the construction of a hydroelectric power plant of 41 MW in Northern Uganda (Achwa River Hydroelectric generation plant). The construction of the plant, a press statement reads, represents the first step in a programme that also involves the construction of a second plant in Uganda, which will bring the total capacity to 83 MW. Apart from SIMEST, other European development finance institutions will be involved. The initiative of SIMEST achieves the dual objectives of supporting the international development of its Italian partner PAC and helping generate a positive impact on the African country, in terms of both infrastructure and the environment. It allows the medium-sized company Pac to look outside Italian borders and to acquire a 58 million dollar contract, which will be developed with Italian engineering, staff and machinery. The plant - which will be built using local workers - will rise about 50 km from South Sudan, in a region of Uganda characterised by high rates of poverty and underdevelopment. It will provide energy at a very low price, creating an attractive environment for the development of activities in the area. The plant will be connected to the grid by a transmission line, which will improve access to the national network for the cities in the area. The line is the first part of a backbone for the exchange of energy with adjacent countries. (AGI) . .