Savannah Energy Secures $65m Hydro Stake

Key Figures & Findings: Savannah Energy has agreed to acquire Norfund’s 50.1% stake in Klinchenberg BV for up to USD 65.4 million, expanding its role in Africa’s hydropower sector. The transaction grants Savannah indirect ownership in Uganda’s 255 MW Bujagali hydropower plant, which supplies nearly a third of the country’s electricity, as well as stakes in the 361 MW Mpatamanga project in Malawi and the 206 MW Ruzizi III project shared by Burundi, the DRC, and Rwanda. Completion is expected no earlier than the first quarter of 2026.

Statistics & Insights: Together, Klinchenberg’s portfolio represents more than 820 MW of installed and pipeline capacity. Bujagali, commissioned in 2012, has been a central contributor to Uganda’s grid stability, while Mpatamanga and Ruzizi III are slated to reach financial close in 2026. The structure of the transaction includes a USD 6.8 million deferred component, reflecting Savannah’s plan to balance debt and cash financing while entering partnerships with existing co-owners such as British International Investment, which holds the remaining 49.9%.

Future Implications: If finalized, the acquisition could mark Savannah’s most significant diversification away from hydrocarbons, positioning the company as a cross-border energy player. With one project already operational and two on track for 2026, the move may strengthen regional electricity trade and bolster efforts to expand clean, reliable power in East and Southern Africa.

Source: Renewables Now

Quick Take: Savannah invests USD 65m in African hydropower.