UEGCL Annual Report 2023
Overview
The UEGCL 2023 Annual Report covers a pivotal year as the company transitioned to a new five-year strategic plan. Managing approximately 68% of Uganda’s electricity generation capacity, UEGCL took over direct operations of the Kiira and Nalubaale plants and progressed major projects including Karuma HPP, Isimba HPP, and Nyagak III. The report highlights strong financial growth with revenue up 63% and profit up 22%, alongside rising total assets. It also outlines strategic goals for 2023–2028, focusing on operational excellence, energy diversification into solar, geothermal, and wind, financial sustainability, and innovative non-core revenue streams, supported by strengthened governance and a new SHEQ department to ensure safety, health, and quality standards.