Friday, October 19, 2018

SNPI turned down World Bank offer to finance Bujagali

The Norwegian hydropower company SN Power Invest (SNPI) has decided to turn down an offer from the World Bank to participate in the controversial Bujagali hydropower project.

SNPI, which is a 50 per cent aid-financed entity, has concluded that Bujagali is “too complex" to become its first project in Africa.

SNPI still aims to make investments in energy projects in Uganda and keeps the door open for other prospects, including the Karuma Falls hydropower project.

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