Ugandan government has signed a 30 year contract with a Kenyan insurance firm to construct Bujagali hydro power plant to increase power generation.

The 250 megawatt power plant was commissioned in October 2012 has attracted more shareholders from US based hedge fund, Blackstone and the Aga Khan Fund for Economic Development will earn a share of the profits after the deal is sealed.

Bujagali power plant will sell electricity to the main power distributor as per the negotiated agreement by the Ugandan government.

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