Rwanda in power deal with Punj Lloyd Ltd
By BiztechAfrica – July 8, 2013, 7:39 a.m.
The Government of Rwanda has signed a Memorandum of Agreement with Punj Lloyd Ltd, a publicly owned Indian based company, to develop and manage a peat power plant, in a ceremony held at the Ministry of Infrastructure in Kigali.
According to the agreement, Punj Lloyd plans to construct, finance, maintain and operate a peat to power plant in North Akanyaru, in Bugesera District, Eastern Province of gross one hundred megawatt (100MW) with an estimated project value of United States Dollars three hundred and seventy one million (USD 371,000,000).
The overall objective of the agreement is to document understanding of the main roles and responsibilities of both the Investor and Government with respect to the Project and ensure the completion of the Feasibility Study within six months.
The Minister of State in Charge of Energy and Water, Eng. Emma Francoise Isumbingabo said: “The Government of Rwanda is continuously working to attain its goal of closing the gap and attaining the 2017 energy target of 563MW. This will be achieved using various sources, peat being one of them. The agreement ensures that more electricity will be made available for Rwanda’s economic development, helping realize the EDPRS II targets.”
Punj Lloyd Ltd boasts of EPC experience of 9,100MW of geothermal, nuclear and coal power projects in India.
Speaking at the signing, the Rwanda Development Board’s Acting Chief Executive Officer Clare Akamanzi maintained: “Energy is a key component of economic development and partnering with experienced investors such as Punj Lloyd Ltd is fundamental to further boosting Rwanda’s GDP. RDB continues to strengthen its deal negotiating capacity in order to attract such strategic partners as Punj Lloyd, while at the same time ensuring both GoR and the investors get a win-win deal.”