The consortium consists of TMM Renewables (South Africa), Gesto Energy Africa (registered in Malta) and 3E Power Solar (Rwanda). The agreement will provide a framework to carry out a feasibility study that will assess the potential power generation of the project. This will then progress into a long term agreement between the Government of Rwanda and a company to be established by Goldsol II in Rwanda to generate, manage and distribute power all over the country. The project is expected to be operational by 2016.
“The current installed generation capacity is close to 120MW” said Valentine Rugwabiza, the Rwanda Development Board’s Chief Executive Officer Ambassador, speaking at the signing. “The 2017 energy target is 563MW to allow for affordable access to power to cover most of the country, which is currently at 19.4 percent to increase to 70 percent by 2017.”
Ms Rugwabiza further added that Rwanda has chosen an expansive approach that embraces a range of clean energy solutions including solar. Partnering with experienced investors is fundamental to boost the country’s GDP and the realization of the project will not only enable increased access to sustainable, reliable, and clean power generation, of about 10 percent to the existing power generation, but will also have numerous socio-economic impacts such as job creation and improved living standards for Rwandan communities. The solar power project was awarded to the consortium through a competitive tender project run by the Energy Water and Sanitation Authority (EWSA).
According to the Development and Managing Director of TMM Renewables, Nuno Nóbrega, the Goldsol consortium already has a track record of investment in Africa exceeding $800 million along with collective experience of more than 400MW of renewable energy projects in operation worldwide. Mr Nóbrega added that the main challenge is to commission the project as soon as possible so that other additional renewable energy projects in Rwanda can be developed.
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