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Bujagali Energy Limited plans to build a hydropower plant in Bujugali. It will generate almost half the energy produced in Uganda and considerably reduce the power outages which people have to endure.
Client presentation
Bujagali Energy Limited (BEL) is a project company set up to develop and operate the Bujagali power plant. It is owned by the Aga Khan Fund for Economic Development (AKFED) viaits subsidiary Industrial Promotion Services (IPS), the US company Sithe Global Power and the Government of Uganda. BEL has a 30-year concession, following which its assets will be transferred to the State.
Project description
The project involves the construction of a hydropower plant with a capacity of 250 MW. The site will be located on the Nile, 8 km downstream from the Owen Falls dam, which itself is located on the shores of Lake Victoria. The total project cost stands at some USD 900m.
Project impact
The Bujagali dam will provide a response to Uganda’s energy crisis: at its commissioning, it will generate almost half the energy produced in Uganda and will put an end to the outages endured by the country. It will provide cheap electricity and will have a positive impact on the climate by reducing greenhouse gas emissions by 1.5 million tons of CO2 a year. In addition, the project will create 1,100 direct jobs during the dam construction phase and is expected to generate some USD 300m of tax revenues by 2023.
Date of signature of the project
Financing tool
45 482 110 Euros
Amount of funding
USD 60m loan
Financing details