TotalEnergies and Bujagali Energy Ltd. have signed an agreement to invest in energy projects in Uganda, reflecting TotalEnergies’ commitment to renewable energy across Africa and supporting the continent’s energy transition.
The agreement includes TotalEnergies acquiring a 28.3% stake in the Bujagali hydropower plant in Jinja, Uganda, which has a capacity of 250 MW and significantly contributes to the country’s electricity supply.
Additionally, TotalEnergies will acquire minority stakes in two other projects under development in Rwanda (260 MW) and Malawi (360 MW).
Patrick Pouyanné, the chairman and CEO of TotalEnergies, emphasized the company’s multi-energy strategy and its role in aiding oil-producing countries in their energy transition.
TotalEnergies’ global hydropower portfolio boasts a gross capacity of 3.7 GW, with significant projects in Europe, Mozambique, and India.
In Uganda and Tanzania, the company plans to install between 500 MW and 1 GW of renewable energy capacity, including solar and wind power projects, in response to the growing electricity demand in these countries, which is increasing by over 5% annually.
The Ugandan government and private sector players hope that TotalEnergies’ investments will help reduce electricity tariffs, currently among the highest in the East African region.
TotalEnergies is also involved in major oil and gas projects in Uganda’s Lake Albert basin, further solidifying its role in the country’s energy landscape.
Minister for Energy and Mineral Development, Ruth Nankabirwa Ssentamu, stated that TotalEnergies’ participation in renewable energy projects complements its fossil fuel operations and will positively influence Uganda’s energy sector.
