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It has been reported that the European Union (EU) has joined the World Bank to fund the development of the 250MW Bujagali hydro-power station in Uganda, committing US$20 million for construction of the power station.
Located on the Victoria Nile River, downstream of Lake Victoria and the Owen Falls Dam, the Bujagali project, will increase and improve the supply of electricity in Uganda. A separate power sector reform and development program in which the distribution business will be a private sector concession accompanies it. The project will facilitate significant transformation in the country by supporting domestic economic growth and increasing household incomes. Bujagali Energy Limited is a joint venture between US-based Sithe Global LLC, a US major developer of power projects in developing markets and Industrial Promotion Services (IPS Kenya Limited). IPS is part of the Aga Khan Fund for Economic Development. Others are Middle East Capital Group (MECG), a regional merchant and investment banking institution; Netherlands Development Finance Company (FMO) and Emerging Africa Infrastructure Fund (EAIF), an investment fund established to promote the development of infrastructure related projects in Africa.
Additional information: More info about Bujagali see the Engineering News profile
News date: 14/11/2006