The project was jointly funded by Industrial Promotion Services, the infrastructure and industrial development arm of the Aga Khan Fund for Economic Development and Blackstone Capital Partners owned Sithe Global.
Bujagali is expected to provide a clean and reliable solution to Uganda’s growing electricity demands besides serving as a growth engine and replacing emergency thermal generation to saves $9.5m per month in government subsidies.
Commenting on the project Bujagali Energy chairman Nizar Juma underlined that the project had been completed on time and within budget adhering to the highest technical, social and environmental standards.
Sithe global CEO and chairman Bruce J. Wrobel added, "We believe that projects like Bujagali, which has both impacted the energy sector in Uganda in a far-reaching positive way and mitigated the ecological footprint of a generation, is the key to sustainable development."
The project will be operated by Bujagali Energy for a 30-year term, on completion of which it will be transferred to the government of Uganda for a nominal price of $1.
