An international consortium, which includes Swedish companies Skanska and Veidekke, has signed up with US company AES Nile Power to construct the 200MW Bujagali hydro plant in Uganda. The contract is valued at US$320M, of which Skanska has a 33% share. Other members of the consortium include Alsthom Power, General Electric and ABB. AES Nile Power will own and operate the power station.
Implementation of the project is contingent upon receipt of financial guarantees from the Export Credits Guarantee Board in Sweden, as well as from comparable export credit agencies in Norway, Finland, Germany, Switzerland, the UK and Italy.
The project is scheduled to begin in summer 2001 and to be completed in 44 months. The run-of-river power plant will be built at an altitude of 1100m at the Bujagali Falls, along the Nile, near the outlet from Lake Victoria.
When the new hydro station swings into operation in 2005, Uganda’s production of electricity will increase by more than 40%.