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The Renewable Energy Business Incubator (REBI) was established in 2011 as a result of the project “Sustainable Renewable Energy Business in Uganda”. It was implemented by the Department of Electrical and Computer Engineering at Makerere University in close cooperation with The Royal Norwegian Society for Development (Norges Vel), Norway. The incubator was initially funded by Nordic Climate Facility (NCF) from October 2011 to March 2014. NCF was financed by Nordic Development Fund (NDF) and administered by Nordic Environment Finance Corporation (NEFCO). In 2013, REBi received funding from Norwegian Agency for Development Cooperation (NORAD) under the project “Business Incubator for Renewable Energy Enterprises”, this support lasted up-to March 2016. Still with NORAD funding project closure was implemented under Incubator for Renewable Energy 2016 project up to March 2017.
In 2015, the major partners of REBi (Norges Vel, Norway and Makerere University Kampala signed an agreement to gradually develop an independent and self-sustaining incubator closely linked to Makerere University. On 6th September 2016, REBi was incorporated as a company limited by guarantee (not-for-profit), hence the change of name to REBi Limited.