The government has signed a Memorandum of Understanding with Turkish firm, Hakan Mining and Electricity Generation Industry and Trade Inc. (Hakan) to develop power generating plants in the wetlands of Nyanza and Gisagara Districts in the Southern Province. Hakan is expected to develop the power plants in three years, the Minister of State in Charge of energy and Water, Emma Francoise Isumbigabo said.
The government has signed a Memorandum of Understanding with Turkish firm, Hakan Mining and Electricity Generation Industry and Trade Inc. (Hakan) to develop power generating plants in the wetlands of Nyanza and Gisagara Districts in the Southern Province.
Hakan is expected to develop the power plants in three years, the Minister of State in Charge of energy and Water, Emma Francoise Isumbigabo said.
"Hakan has offered us a quicker way out. Developing peat power is a quicker way of getting electricity, which should take no more than three years, compared to hydropower generation that last for at least six years,” Isumbigabo told reporters after signing the MoU with the Board Chairman of Hakan, Ahmet Karasoy.
"When they complete a feasibility study of the areas and we approve it, they will spend around US$230 million to develop the peat power generation plants,” the State Minister disclosed.
Karasoy commended government’s efficiency through the Rwanda Development Board (RDB), in ensuring that all the paperwork was signed within a short time for his firm to begin laying the groundwork.
"We are optimistic that our partnership with Rwanda will benefit both parties; we shall pull all our efforts towards the accomplishment of the goal that brought us to Rwanda,” Karasoy said.
"We shall also be looking at other energy areas where we can invest in order to contribute our best to the development progress of Rwanda,” Karasoy added.
The Chief Operating Officer of RDB, Claire Akamanzi, said that government’s efforts to improve the business climate were paying off due to the increasing number of foreign direct investments in the country.
"The energy sector is probably our number one priority at the moment and we are delighted that Hakan has already made tremendous progress to implement the work plan as agreed,” Akamanzi observed.
Hakan and Contour Global are some of the international firms that have invested in the energy sector of the country.