Change in ownership FRES Uganda
Change in ownership FRES Uganda
The Foundation for Rural Energy Services (FRES) – a charity foundation in The Netherlands – and Impact Opportunities II B.V. – a Dutch investment firm jointly owned by Urban Impact Ventures and a leading impact oriented Dutch family office – are pleased to announce that they have concluded a transaction and have obtained local approval for the transfer of FRES’ 99% shareholding in FRES Uganda to Impact Opportunities II B.V..
The transfer is part of a strategic reorientation of FRES and provides FRES Uganda with a new majority owner who can support the company’s future growth and impact in the years to come.
Wim Plaizier – Chairman of the Board of FRES – said: In 2024 the Board of FRES started an initiative to review our portfolio of companies within the light of their future investment and growth requirements and FRES’ ability to support these from own funds and to be acquired donor funding. As part of that assessment, it was concluded that FRES Uganda would benefit from a change in ownership. We are extremely delighted that we have been able to conclude an arrangement with Urban Impact Ventures and the family office and are confident that this arrangement will help to propel FRES Uganda’s long-term growth.
Hans van Houwelingen – Managing Partner of Urban Impact Ventures – said: With Impact Opportunities II as a provider of patient impact capital, we are proud to announce the acquisition of FRES Uganda, marking a significant milestone that strengthens our commitment to sustainable energy growth and long-term investment in Africa’s future. We look forward to work with Benjamin Emiau and the FRES Uganda team in expanding our affordable high-quality Energy-as-a-Service offer towards a growing number of households and businesses in Uganda that are ‘climbing the energy ladder’.
Benjamin Emiau, Managing Director of FRES Uganda, said: We are very happy to welcome Impact Opportunities II as our new majority shareholder and are confident that together we can grow FRES Uganda’s network of solar home systems and mini-grids, offered in rural areas on a fee-for-service basis. At the same time, we would like to thank FRES The Netherlands for being such a strong supporter of our cause — having established us in 2010 and cared for us ever since.
About FRES Uganda
FRES Uganda is a rural energy service provider, serving 5000 customers with solar home systems and mini grids in rural areas in Western and Southern Uganda. The company was established in 2010 and is managed by a fully local team.
About Impact Opportunities II
Impact Opportunities II targets significant minority or majority shares in profitable growth companies in frontier and emerging markets that have a strong societal and/or environmental footprint – and supports these companies with patient growth capital and strategic advice.
About Foundation Rural Energy Services (FRES)
FRES is a Dutch charity foundation, established in 1999, focused on providing sustainable and affordable energy to rural areas in Africa. FRES operates “energy as a service” operations on four countries in Africa and serves about 20’000 customers (prior to the Uganda divesture).
November 14, 2025