The signing ceremony of the Ruzizi III Project Agreement took place on Monday 29 July 2019 in Kinshasa after more than seven years of negotiations between the CEPGL member states (Burundi, DR Congo and Rwanda) and the Private partner formed by the Consortium Industrial Promotion Services (IPS) of Kenya and SN Power of Norway.
This project responds to the problem of the energy deficit in the Great Lakes subregion due to the lack of financial resources to invest in electricity generation and transmission infrastructure.
The development of the Ruzizi III hydroelectric plant will boost the mining industry and the processing of agricultural and livestock products with the positive consequence of creating jobs, increasing exports and improving socio-economic welfare in this subregion. During the construction of the plant, more than 2,500 direct jobs will be created, not to mention other indirect jobs.
The development project for the Ruzizi III hydropower plant was set up as a Public-Private Partnership. In this context, the Project Company, created by the Private Partner and the three States of CEPGL, will fully ensure the development and construction of the Ruzizi III hydroelectric plant and related works.
This project will be realized largely thanks to the concessional funds granted to the three States by the following financial partners: the French Development Agency, the African Bank for Development, the German Bank for Development, the European Investment Bank, the World Bank and the European Union.
After construction, it was agreed that the States will grant the Project Company a 25-year concession for the operation and maintenance of the power plant and the 220-kV line that runs from the power plant to the dispatching station which will be built in Kamanyola, DR Congo.
The expected capacity of this plant is between 147 and 230 MW with an annual output of between 710 and 958 GWh.
After this signing ceremony, there is a 24-month financial closing period and a plant construction period of no more than four and a half years. Commissioning of this plant is scheduled for 2026.