BII to invest US$200 million in African Hydropower projects
Date
June 29, 2022
Type
Financial close
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British International Investment (BII) has announced its commitment to invest US$200 million in hydropower projects across Africa.
A pipeline of new projects will be developed including the first tri-national PPP in Africa (Ruzizi III HPP) and the largest power plant (Mpatamanga HPP) in Malawi. BII is partnering with the Norwegian Investment Fund (Norfund) and Scatec in a joint venture (JV). Norfund and Scatec will provide investments of up to US$100 million in hydropower-related projects on the African continent over the next several years.
The JV’s investments are expected to support the creation of 180,000 jobs, avoid at least 270,000 tonnes of CO2 emissions annually and is expected to provide enough clean power to over 3 million people.
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