Energy Economy

30 Jun 2022

UK Invests £162M in Africa’s Energy Industry

30 Jun 2022  by   

Kigali, Rwanda. Image: Shutterstock

The development finance institution of the UK Government is providing an investment of £162 million to support the energy industry in Africa.

British International Investment has partnered with Norway’s Norfund in a joint venture with energy firm Scatec to support the initiative, which is expected to create 180,000 jobs.

It will also provide enough electricity to meet the needs of more than three million people while reducing greenhouse gas emissions.

Initial projects supported by the investment include the proposed 205MW Ruzizi III hydropower plant, which will provide energy for Rwanda, DRC and Burundi, as well as the construction of Malawi’s largest power plant.

Gridworks, a UK Government-funded subsidiary of BII, has also signed a co-operation agreement with the Government of Uganda to invest up to $90 million (£73m) to develop the country’s national grid.

The project will upgrade four electricity substations in Uganda to boost their capacity for the integration of renewable energy to supply industrial customers.

Uganda currently gets 80% of its energy from renewable sources but has the potential to generate far more if storage and transmission infrastructure is improved.

In addition, the UK is committing £36 million more to boost sustainable growth in the maritime economy in Small Island Developing States, with the funding supporting UK scientific expertise and resources for small island governments to sustainably monetise their ocean resources while protecting the environment.


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