Speaking during the signing ceremony, Symbion Chief Executive Officer, Paul Hinks said that they were pleased with the cooperation with HGHL.
“We are going to invest $100 million in Symbion Energy’s projects in Rwanda. Activities will start in November 2017, this amount of money will help generate 22MW of electricity in 18 months” he said.
Hinks said that between 8 and 10MW will be generated before 2018 ends.
Currently only 25MW is produced from the lake.
He said that Rwanda is among countries that understand the potential of electricity in attracting private investors.
Lord Irvine Laidlaw, the HGHL Chairman said that they are excited to provide electricity by using particular resources.
“We are going to provide electricity in a fast-developing country in Africa, so we are proud to provide contribution in its development”
The Chief Executive Officer of the Rwanda Development Board, Clare Akamanzi commended the cooperation saying that they will spur development in Rwanda.
“We are very pleased with such partnership and we are committed to support investors.” she said.
In 2015, the government of Rwanda signed the deal with Symbion Group to generate 50MW of electricity from methane gas in Kivu Lake.