Total Energies Acquires 28% Stake in Bujagali Power Dam
AKDN
Media Source: The Daily Monitor (Uganda)
Date: 31 July 2024
TotalEnergies has signed an agreement with Scatec, a Norwegian renewable energy company, to acquire 100% of its subsidiary SN Power, which holds interests in renewable hydropower projects in Africa, through a joint venture (51% SN Power) with Norfund and British International Investment (BII). As a result of this transact
TotalEnergies has signed an agreement with Scatec, a Norwegian renewable energy company, to acquire 100% of its subsidiary SN Power, which holds interests in renewable hydropower projects in Africa, through a joint venture (51% SN Power) with Norfund and British International Investment (BII). As a result of this transaction, which is subject to certain previous conditions, TotalEnergies will acquire a 28.3% stake in the Bujagali hydropower plant currently in operation in Uganda. The other shareholders of Bujagali Energy Limited are Bujagali Holdings Power Company Ltd (BHPCL) an affiliate of Aga Khan Fund for Economic Development (AKFED) and Government of Uganda (GoU).