US-based Anzana Electric Group has announced plans to fund the construction of the stalled hydropower plant on the Ruzizi River between Rwanda and the Democratic Republic of the Congo.
The announcement comes as part of peace talks mediated by the United States between the two countries.
In a joint statement, Anzana Electric Group and Rwanda-registered Ruzizi III Holding Power Company Limited (RHPCL) said they will team up to construct the 206-megawatt Ruzizi III project.
“The Directors of RHPCL are enthusiastic about this potential strategic alliance and, assuming a successful outcome of the partnering process, look forward to harnessing Anzana’s expertise and experience to realize the full potential of the Ruzizi III Project, extending critical energy access and fostering development in the region,” Aleem Karmali, Director for RHPCL said.
The $760 million facility will help “drive regional integration, strengthen energy security and stability, and pave the way for expanded US investment and trade in Africa’s energy future,” Anzana’s Chief Executive Officer Brian Kelly said in the statement.
Ruzizi III will join two other plants located on the river that divides Congo’s South Kivu province from Rwanda’s Rusizi District.
It could nearly double power capacity for nearby Burundi, increase Rwanda’s by 30% and provide baseload power for eastern Congo.
“The project will nearly double Burundi’s current capacity, boost Rwanda’s by 30%, and deliver critical baseload and dispatchable power to eastern DRC, advancing economic growth, regional integration, and energy security in one of Africa’s most underserved regions”, the statement reads.
All three countries are part of the planned public-private partnership that will build and operate the plant, which could open as early as 2030.
It will help the Congo achieve its goal of doubling power generation capacity to 1500 MW by 2030.
The project, in planning for more than a decade, has been delayed by ongoing conflict in eastern Congo.
The hydropower plant will supply reliable electricity for approximately 30 million people across Burundi, the DRC and Rwanda, in a region where electricity access averages just 24%.
Anzana also disclosed plans to acquire at least a 10% stake in Ruzizi III Holding by September 15.
