Rwanda finds Nyabarongo hydro power project funder
27 January 2010
The Rwandan government has signed an agreement to receive a $60 million line of credit from the Exim Bank of India to finance the construction of the Nyabarongo hydro power project.
Collette Uwineza Ruhamya, State minister for energy, told the New Times the remainder would be taken care of by the government.
She added that the project - slated to be the country's biggest hydroelectric power plant - was making good progress and was expected to be completed in 2013.
When finished, it should generate some 27.5 MW of electricity - a sum Ms Uwineza Ruhamya noted would be a big boost to the national power grid.
The money will be released in different phases and $20 million has already been made available to finance the initial stages of construction, which includes access roads.
Rwanda also stands to benefit from its collaboration in the East African Power Pool and should see their energy offer upped with the projected end-of-2010 completion of the regional power system master plan and regional grid code.