Norway’s SN Power will not take a stake in the 250MW Bujagali hydropower project in Uganda as a previously announced deal to buy SG Bujagali Holdings, Ltd’s (SGBH) partial ownership has fallen through.

The company’s announced that they had not received the necessary regulatory consent to close the Bujagali transaction within the long stop date deadline, 31 December 2016, as stipulated in the Purchase and Sale Agreement. As a consequence, the agreement is now terminated.

SN Power announced back in April 2016 that it was planning to take a stake in the project, stating that it provide a platform for the company to develop additional hydropower projects in Uganda and Sub-Saharan Africa.

 The Bujagali Hydropower Project is widely considered the most successful public private partnership in the power sector in Sub-Saharan Africa and has been used as a model for subsequent projects in the region.  Bujagali was commissioned in August 2012, putting an end to years of constrained economic growth caused by an insufficient and unreliable power supply in Uganda.