GOR SIGNS USD 198 MILLION ENERGY DEAL WITH SYMBION POWER LLC.

 

KIGALI, 13 December 2015 – In a ceremony held at Kigali Serena Hotel, the Government of Rwanda (“GoR”) has today signed a Power Purchase Agreement and a Concession Agreement with Symbion Power LLC (“Symbion”) that emerged as the winner of an international competitive tender carried out to select an independent power producer to generate 50 MW of electricity from methane gas extracted from Lake Kivu.

According to the agreements, Symbion Power LLC will design, build, finance, own, operate and transfer a 50 MW power plant and the project investment has a value of USD 198 million. The overall objective of the agreements is to document the responsibilities of both the investor and the GoR with respect to the project and to grant permission to the investor to operate.

The Minister of Infrastructure, Honorable James Musoni said that, “The provision of electricity to all Rwandans is a priority for the GoR. Such private initiatives and investments in the construction, development and maintenance of sustainable electricity generating plants provide great economic value.”

Speaking at the signing, the Rwanda Development Board’s Chief Executive Officer, Mr. Francis Gatare maintained that “Energy is a key component of economic development and as such Symbion’s methane gas power plant investment will further boost Rwanda’s competitiveness.” 

The Chief Executive Officer of Rwanda Energy Group, Mr. Jean Bosco Mugiraneza, mentioned that: “Currently, Rwanda has installed electricity capacity of 161 MW and the GoR has a target to achieve 563 MW power generation by 2017, the year by which the access to electricity will reach 70%. Therefore, the signed deal will contribute in achieving our energy target.”

Symbion’ Chief Executive Officer, Mr. Paul Hinks said "Unlocking Lake Kivu’s energy potential is a game changer for Rwanda. Our team is working hard to turn this resource into affordable, reliable power for Rwanda's people. We work with governments across sub-Saharan Africa to replace expensive, imported fuel with indigenous fuel sources to produce electricity and are honored to have the opportunity to do that here in Rwanda as a part of our commitment to President Obama's Power Africa initiative."

Symbion Power LLC was incorporated in the USA in 2005 and operates in the energy sector around the world. 

 

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