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British International Investment plans $200 million investment in Africa hydropower

Reuters
·1-min read

LONDON (Reuters) - The UK government's development finance institution British International Investment (BII) plans to invest $200 million in a joint project with Norway's Norfund to construct at least three hydroelectric power projects in Africa, BII said on Thursday.

The two institutions will equally split a 49% shareholding in a joint venture with Norway's Scatec ASA for the projects, BII said in a emailed statement.

These will include the planned 205 megawatt (MW) Ruzizi III hydroelectric plant to supply electricity to Rwanda, Burundi and Democratic Republic of Congo, the 120 MW Volobe hydropower plant in Madagascar, and Malawi's 350 MW Mpatamanga project, BII said.

(Reporting by Rachel Savage; Writing by George Obulutsa; Editing by Nellie Peyton and Jan Harvey)