Savannah Energy PLC (LSE:SAVE) has agreed to acquire a 50.1% stake in Klinchenberg BV from Norfund, marking a strategic expansion into East Africa’s hydropower sector. The transaction, worth up to $65.4 million, includes interests in three large-scale projects: Bujagali in Uganda, Mpatamanga in Malawi, and Ruzizi III, which spans Burundi, the Democratic Republic of the Congo, and Rwanda. Once completed, the deal is expected to strengthen Savannah’s role in Africa’s energy transition, providing access to affordable electricity for more than 30 million people and laying the groundwork for long-term regional growth.
About Savannah Energy
Savannah Energy PLC is a UK-based independent energy company with a focus on impactful projects across Africa. The business is expanding from oil and gas into renewable power, with a particular emphasis on hydropower initiatives that support sustainable economic development on the continent.
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