In July 2018 SN Power acquired 65% of the shares (49% of the votes) in Bujagali Energy Limited (BEL) from Sithe Global for a consideration of USD 278 million. Bujagali is a 250 MW run-of-river hydropower plant downstream of Nalubaale (previously Owen Fall) and Kiira hydropower stations. BEL has a capacity based pass-through supply agreement with Uganda Electricity Transmission Company Ltd (UETCL) expiring in 2042. The plant’s availability has been 100% (as defined by the supply agreement).
In June, SN Power signed a Memorandum of Understanding (MOU) with Jovena, Colas and Africa50 for the development of the 120 MW Volobe hydropower project in Madagascar. Terms and conditions of SN Power’s official entry into the project is currently being discussed with target conclusion on a shareholder’s agreement in H1 2019.
SN Power has a Memorandum of Understanding with the Government of Myanmar for the development of the large-scale Middle Yeywa hydropower project on the Myitnge river. In August SN Power delivered a draft Feasibility Study Report, including and Environmental Impact Assessment to the Government. This report is being reviewed by the Government.