The multinational energy company acquires 28.3% of the 250 MW Bujagali hydroelectric power station in Uganda.
This facility covers more than 25% of the country’s peak electricity demand.
In addition, the company acquires minority stakes in two projects under development: 260 MW in Rwanda and 360 MW in Malawi.
Strategic deployment
This acquisition is part of the company’s energy diversification strategy, aimed at strengthening its presence in the renewable energies sector in Africa.
The acquisition of these hydroelectric assets enables the energy group to contribute to the continent’s energy transition by supplying clean electricity to local populations.
Patrick Pouyanné, CEO of the French company, says the deal demonstrates the organization’s ability to implement its multi-energy strategy in oil-producing countries, promoting their transition to renewable energy sources.
Outlook for the future
Scatec, through its CEO Terje Pilskog, expresses its confidence in the energy giant’s ability to develop these projects and strengthen their contribution to Africa’s energy transition.
This transaction marks an important step in the cooperation between the two companies, supported by joint venture partners such as Norfund and British International Investment (BII).
Currently, the French company has interests in several hydroelectric projects with a gross capacity of 3.7 GW worldwide, spread across France, Portugal, Turkey, Mozambique and India.
This geographic diversification underlines the company’s commitment to renewable energies and its determination to play a key role in the global energy transition.
Impact on the African energy sector
The integration of these hydroelectric projects enables the company to extend its renewable energy portfolio in Africa, thereby contributing to the energy stability and economic development of the regions concerned.
The Bujagali plant, in particular, is a key element in Uganda’s energy infrastructure, meeting a significant proportion of the country’s electricity demand.
This operation is also part of a wider dynamic of international collaboration for the development of clean energy projects, with players such as Norfund and British International Investment contributing their expertise and financial support.
The acquisition of these hydroelectric assets by the energy group represents a major step forward for the company, strengthening its position in the renewable energy sector in Africa.
This move is in line with the company’s overall objectives to diversify its energy sources and contribute to the global energy transition.
The expansion of TotalEnergies’ renewable energy portfolio in Africa, through the acquisition of interests in hydroelectric projects, is a significant step in the company’s multi-energy strategy.
This operation, supported by strategic partnerships with players such as Scatec, Norfund and British International Investment, underlines the energy group’s commitment to energy transition and sustainable development in Africa.
