- Eswatini’s R567million, 13,5MW Lower Maguduza Hydropower Project has reached financial close
Located on the Usuthu River, the project devEloper is African Clean Energy Developments (ACED), and includes the Eswatini Public Service Pension Fund and African Infrastructure Investment Managers (AIIM) managed IDEAS Fund as long-term investors. Standard Bank Group South Africa, Standard Bank Eswatini and Public Service Pensions Fund are providing senior debt for the project, which will supply energy to the Eswatini Electricity Company through a 30-year PPA. Commissioning is expected in Q4 2026.
The project enables Eswatini to achieve its ambitions of energy security by generating the power internally from its natural resources rather than relying on imports.
Eswatini imports approximately 80% of its power primarily from South Africa and Mozambique with 65% of its imported power specifically coming from Eskom. The project is one of the first independent power producers to close in Eswatini and helps shift the country away from reliance on imported coal into a renewable energy source.
Author: Bryan Groenendaal
