UEGCL Annual Report For the Year Ended 2014
Overview
The Uganda Electricity Generation Company Limited (UEGCL) Annual Report 2014 highlights significant progress in strengthening corporate governance and advancing Uganda’s major hydropower development projects.
During the year, UEGCL enhanced its governance framework following the appointment of a new Board Chairperson and Board members. The Board Charter was revised to strengthen oversight of managerial recruitment and performance evaluation processes.
A major focus of 2014 was the implementation of Uganda’s flagship hydropower projects. Progress was made on the 600MW Karuma Hydropower Project, including site mobilization, completion of approximately 1.5 kilometers of tunneling, and submission of the basic design report. At the 183MW Isimba Hydropower Project, river diversion and excavation works were successfully completed, marking important construction milestones.
The company also advanced the development of future generation projects. The feasibility study for the 600MW Ayago Hydropower Project was updated, while a supervision consultant was procured. UEGCL further secured a private sector partner for the Nyagak III Small Hydropower Project under a Public-Private Partnership (PPP) arrangement and obtained financing commitments of EUR 84 million and a EUR 4 million grant from KfW and AFD for the Muzizi Hydropower Project.
UEGCL continued to support environmental sustainability through initiatives such as the Bugungu Reforestation Project in Buikwe District. The report emphasizes the company’s expanded mandate from concession monitoring to implementing large-scale government hydropower projects aimed at increasing electricity generation capacity and supporting Uganda’s economic development.
As a wholly government-owned company, UEGCL remained committed to its vision of becoming a leading and reliable power producer in East Africa and its mission of generating affordable, quality, and sustainable electricity to drive national growth.