Norwegian renewable energy firm Scatec ASA sells 51% stake in African hydropower projects to TotalEnergies.
Scatec ASA, a Norwegian renewable energy firm, has agreed to sell its 51% stake in an African hydropower joint venture to TotalEnergies. The deal involves Scatec's interests in the 255MW Bujagali hydropower plant in Uganda, 361MW Mpatamanga project in Malawi, and 206MW Ruzizi III project at the Rwanda-DRC-Burundi border. The transaction aligns with Scatec's strategy of focusing on solar, wind, and battery energy storage, and is set to close in the first half of 2025.
July 30, 2024
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