The investments will be used to prepare for an expected rise in power expected to come online by 2020, CEO Selestino Babungi told Reuters in an interview.
Uganda’s energy market is largely seen as underexploited and holding significant potential for growth.
The grid reaches just 23% of the country’s 40 million people and power consumption, according Umeme, stands at 85 kilowatt hours per capita annually.
That’s below the average per capita consumption rate of 150 kilowatt hours for sub-Saharan Africa, excluding South Africa, according to a 2015 report by consultancy McKinsey.
Source: The Africa Report