Jubilee Holdings to pump $44 million into Bujagali power plant
Aerial view of the Bujagali Hydropower Project, Uganda.
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Article Author: Jubilee Holdings to pump $44 million into Bujagali power plant
Media Source: The East African (Kenya)
Date: 31 May 2018
Jubilee Holdings is set to invest in Ugandan hydroelectric power plant Bujagali as part of the insurance group’s diversification across the East Africa region. The investment will significantly increase the insurer’s shareholding in the power distributor two years after it bought a $54,2 million stake. Jubilee sees the power…
Jubilee Holdings is set to invest in Ugandan hydroelectric power plant Bujagali as part of the insurance group’s diversification across the East Africa region. The investment will significantly increase the insurer’s shareholding in the power distributor two years after it bought a $54,2 million stake. Jubilee sees the power plant’s return profile as matching the group’s longer term pension and annuity liabilities. Bujagali generates about 50 per cent of hydro power in Uganda.