We are delighted to announce our planned acquisition of interests in the Bujagali, Mpatamanga and Ruzizi III hydropower projects, marking our planned entry into five new East-African countries and our first operating power asset
Bujagali run-of-river hydropower plant
Located on the Victoria Nile in eastern Uganda, Bujagali is a flagship 255 MW run-of-river hydropower plant, with an excellent 13-year operating and payment track record. It contributes approximately 31% of Uganda’s effective electricity generation capacity, producing approximately 1,490 GWh of power annually. The project benefits from a US dollar-denominated power purchase agreement with the Uganda Electricity Transmission Company Limited, Uganda’s principal power transmission utility, maturing in 2042.
255 MW
Run-of-river hydropower plant located on the Victoria Nile in eastern Uganda
31%
Contributes approximately 31% of Uganda’s effective electricity generation capacity
1,490 GWh
Produces approximately 1,490 GWh of power per year
World class project partners
TotalEnergies, British International Investment, AKDN (the Aga Khan Fund of Economic Development), the International Finance Corporation/World Bank, DEG (the Germany-owned investment company), Jubilee Holdings Limited and the Government of Uganda
Mpatamanga hydropower project
Located on the Shire River in southern Malawi, the Mpatamanga hydropower project is a planned 361 MW traditional reservoir power plant. It is designed to double Malawi’s current installed generation capacity and materially reduce dependence on diesel-fired generation. Financial close is targeted for 2026, with the project expected to be financed through a combination of concessional and commercial debt alongside equity contributions from the sponsors, underpinned by World Bank guarantee structures. Once operational, Mpatamanga is expected to deliver robust cash flows through long-term offtake agreements with the Government of Malawi and a US dollar-linked tariff.
361 MW
Planned traditional reservoir hydropower project located on the Shire River in southern Malawi
Generation capacity
Expected to double Malawi’s current installed generation capacity and reduce reliance on diesel-fired generation
Financial close
Financial close is targeted for 2026
World class project partners
TotalEnergies, British International Investment, International Finance Corporation/World Bank, EDF, and the Government of Malawi
Ruzizi III hydropower project
Located on the Ruzizi River between Burundi, the DRC and Rwanda, the Ruzizi III hydropower project is a planned 206 MW run-of-river power plant. The project is designed to supply electricity to Burundi, the DRC and Rwanda under long-term, government-backed, take-or-pay power purchase agreements, providing predictable US dollar-denominated revenues. Once operational, Ruzizi III is expected to nearly double Burundi’s electricity generation capacity, increase Rwanda’s installed capacity by approximately 30%, and deliver much-needed reliable baseload power to eastern DRC.
Ruzizi III is expected to reach financial close in 2026, supported by a multi-lateral financing package with participation from the World Bank and other development finance institutions.
206 MW
Planned run-of-river hydropower plant located on the Ruzizi River between Burundi, the Democratic Republic of the Congo and Rwanda
Generation capacity
Expected to nearly double Burundi’s generation capacity, increase Rwanda’s installed capacity by approximately 30%, and provide reliable baseload power to eastern Democratic Republic of the Congo
Financial close
Financial close is targeted for 2026
World class project partners
TotalEnergies, British International Investment, AKDN (the Aga Khan Fund of Economic Development), IFC/World Bank, DEG (the Germany-owned investment company), and Energie des Grands Lacs