Jubilee Holdings acquires an additional 9% stake in Bujagali Energy

UGANDA – Jubilee Holdings Limited (JHL), an insurance company, has acquired an additional 9.44 percent stake in Bujagali Energy Ltd (BEL), increasing its shareholding in the Ugandan-based firm to 18.24 percent from 8.8 percent. The shares valued at US$40 million were held by the technical partners SN Power. SN Power, which remains with an economic majority of 55.45 percent shares in BEL, invests in clean, renewable energy on a commercial basis in emerging markets. The company’s primary focus is on hydropower and is fully owned by Norfund, the Norwegian Investment…

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