TotalEnergies: agreement to acquire SN Power

(CercleFinance.com) - TotalEnergies has signed an agreement with Scatec to acquire its subsidiary SN Power, which holds interests in renewable hydroelectric projects in Africa, through a joint venture with Norfund and British International Investment (BII).


Through this transaction, which is subject to certain conditions, the energy company will acquire a 28.3% stake in the Bujagali hydroelectric power plant currently in operation in Uganda.

With a capacity of 250 MW, this plant covers more than 25% of the country's peak electricity demand. TotalEnergies will also acquire minority stakes in two projects under development in Rwanda (260 MW) and Malawi (360 MW).

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