Earlier this month, US firm Symbion Power announced their energy investment in Rwanda where they were awarded 50MW Methane gas Independent Power Production (IPP) project by the Rwanda Energy Group, allAfrica reported.
Chief Executive Officer of Symbion Power, Paul Hinks addressed the audience at iPAD Rwanda Power and Infrastructure Investment Forum with confidence and optimism in their new venture.
‘This is a very big step for Symbion since we have been targeting a long term investment in Rwanda for several years’, he said.
The event was centred around the Rwandan energy sector where discussions gravitated towards exploiting the abundant opportunities which the country has on offer, through financial investments.
An agreement was signed between Symbion, government and the Rwanda Energy Group detailing that Symbion will continue with their research studies and commence engineering work, before a Power Purchase Agreement takes place, allAfrica reported.
“After that we will begin with the site work first phase for 14MW coming on line after 15 months,” Hinks said.
Deputy General Manager Jamil Korked of STEG International Services in Tunisia was joined by various local companies who eagerly welcomed investors into the country, allAfrica said.
Korked assured investors that the political and legal foundations of the country were solid and security and skills were of high quality, the basic worries of any investor.
AllAfrica reported that an additional seven companies showed interest in developing power projects in Rwanda, perhaps this interest is becoming a popular trend and will lend credibility to external parties.