Asigma Energy Fund 1 acquired a stake in Moto Geothermal Projekt Uganda Limited (“Moto”). Moto was granted an exploration license from the Ministry of Energy for an area of 28.1 square kilometres in Ihimbo geothermal area in Rukungiri district. Geothermal energy provides abundant and relatively cheap renewable energy.
The area under exploration has geothermal manifestations such as hot springs showing strong potential for geothermal energy resources to be used for electricity generation and other direct uses. It is estimated that Moto will add at least 20 MW to the national grid from shallow geothermal, thereby contributing to Uganda’s energy mix.