Stanbic Bank
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Stanbic Bank
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Stanbic Bank

Uganda, DR Congo sign deal to trade electricity

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Uganda and the Democratic Republic of Congo have signed a preliminary agreement to erect a power transmission line that that the former will use to sell electricity to the eastern border towns of the DRC.

Energy Minister Irene Muloni, said the two countries signed a memorandum of understanding this August to jointly construct a high-voltage power line that will help light towns of Beni, Bunia and Butembo.

The line measuring 350 kilometres, will begin at a substation in the western border town of Fort Portal in Kabarole district.

Minister Muloni said Uganda would fund about 70 kilometres of the line while DRC would meet the cost of the remaining kilometres.

The minister added that the feasibility study funded by the African Development Bank (ADB) had already been completed.

“ADB was interested in funding the project’s development, estimated to cost US$150 million, she said, adding that talks were ongoing on a possible financing agreement.

“Once ADB accepts the funding, the project will be ready by end of 2019,” she said.

Uganda’s current peak power demand stands at about 600 megawatts and Muloni said the country would have a lot of excess power when the construction of Karuma and other power plants ends.

 

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