Symbion Energy signed an agreement with Highland Group Holding Ltd. (HGHL) for the joint investment of $100 million into a project to build a methane gas plant on Rwanda’s Lake Kivu. The infrastructure, estimated at $370 million, will have a capacity of 106 MW.
The lake has an estimated potential of 55 billion cubic meters of natural gas. About 500 MW of electricity could be generated over 40 years with this resource, experts say. 25 MW of electricity are already produced.
“The works are scheduled to start in November 2017 and this new investment will allow us to have at least 22 MW after 18 months to start. Rwanda is one of the few countries in Africa that has realized that the achievement of its long-term goals will require the provision of sustainable energy that will attract investors and serve populations,” said Paul Hinks, executive director of Symbion when signing the agreement.