African Development Bank approves USD 25mn loan for Rwanda power project.

By bne IntelliNews February 10, 2011
The African Development Bank (AfDB) has approved a USD 25mn senior private sector loan to finance the KivuWatt project in Rwanda, it said in a statement. The project has been developed by U.S. energy company ContourGlobal. Along with a consortium of development finance partners, AfDB will finance the first large scale private sector investment in power generation in Rwanda. The project comprises Phase I of the KivuWatt project, an integrated-methane gas extraction and power production facility. It involves gas extraction using a floating barge located approximately 12.5 km offshore from the city of Kibuye. The extracted gas will be processed and pumped ashore for use in a power plant via a submerged floating pipeline. Power will be produced by methane-powered reciprocating engine generator sets with a combined 25 MW net output. Phase II includes expansion of the facilities designed in Phase I and will produce an additional 75 MW of power, the bank said.
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