TotalEnergies is set to acquire SN Power from Scatec, gaining a 28.3 per cent stake in Uganda’s 250 MW Bujagali hydropower plant, which supplies over 25 per cent of Uganda’s peak electricity demand. The deal also includes stakes in hydropower projects in Rwanda (260 MW) and Malawi (360 MW). This acquisition, managed through a joint venture (JV) with Norfund and British International Investment, aligns with TotalEnergies’ strategy to support Africa’s energy transition. The company aims to increase its renewable capacity from 22 GW in 2023 to 35 GW by 2025 and over 100 terawatt-hours by 2030.
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