Image courtesy of NorfundSavannah Energy PLC announced today that its subsidiary, Savannah Energy EA Limited, will sign a Share Purchase Agreement (SPA) with Norfund to acquire its 50.1% stake in Klinchenberg BV for up to US$65.4 million. The consideration includes a US$6.8 million deferred payment due three years after completion and contingent payments linked to financial close of Mpatamanga and Ruzizi III. Mpatamanga: Planned for the Shire River in Malawi, the 361 MW reservoir plant is designed to double Malawi’s generation capacity. Ruzizi III: A 206MW run-of-river project on the Ruzizi River, designed to supply Burundi, the DRC, and Rwanda. John Humphrey, His Majesty’s Trade Commissioner for Africa, said: “I am delighted to see Savannah Energy PLC, a UK investor, taking a stake in these important renewable energy projects across East and Central Africa.