TotalEnergies acquires Scatec’s African hydropower portfolio

Energy company TotalEnergies has signed an agreement with Norwegian renewable energy company Scatec to acquire its subsidiary SN Power, which holds interests in renewable hydropower projects in Africa through a joint venture with Norfund and British International Investment (BII). Through this transaction, which is subject to certain conditions, TotalEnergies will acquire a 28.3% stake in the operational Bujagali hydropower plant in Uganda. With a capacity of 255 MW, it provides more than 25% of the country's peak electricity demand.