Jubilee Holdings has announced an additional investment of KSh4.4 billion in Uganda’s Bujagali hydroelectric power plant, Africa’s largest privately financed hydropower project. This new investment now raises its stake in the project to 40.9%, from an initial 25%.
Jubilee’s chairman Nizar Juma says that KSh2.2 billion is from a loan obtained from Kampala-based DFCU bank, which has a variable interest rate, matures in five years, and secured using shares of the power plant.
The Power Station is a 250-megawatt hydroelectric power station across the Victoria Nile that harnesses the energy of Bujagali Falls in Uganda. Construction began in 2007 and concluded in 2012. It was officially inaugurated on 8 October 2012. It supplies half of Uganda’s effective energy capacity.