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The latest announcement is out from Savannah Petroleum ( (GB:SAVE) ).
Savannah Energy PLC is set to acquire a 50.1% interest in Klinchenberg BV from Norfund, marking its entry into East African power projects in Uganda, Burundi, the Democratic Republic of the Congo, Malawi, and Rwanda. This acquisition includes interests in three significant hydropower projects: Bujagali in Uganda, Mpatamanga in Malawi, and Ruzizi III spanning Burundi, the DRC, and Rwanda. The transaction, valued at up to $65.4 million, is expected to enhance Savannah’s position in the African power sector, providing a foundation for future growth and benefiting over 30 million people with competitively priced electricity.
More about Savannah Petroleum
Savannah Energy PLC is a British independent energy company focused on delivering impactful projects in Africa. The company is involved in the energy sector, particularly in hydropower projects, and aims to contribute to sustainable development on the continent.
Average Trading Volume: 4,143,358
Technical Sentiment Signal: Sell
Current Market Cap: £112.7M
Find detailed analytics on SAVE stock on TipRanks’ Stock Analysis page.