Symbion Energy signed with Highland Group Holding Ltd (HGHL), an agreement to co-invest $100 million in a project to extract methane gas from Lake Kivu. This falls under a $370 million project to generate 106MW from the gas.

The Lake is estimated to hold 55 billion cubic meters of natural methane gas and could insure the generation of about 500MW over 40 years, according to experts. For now, only 25MW were derived from this reserve.

“This funding means we can fast track at least 22MW of power within 18 months. Rwanda is one of the very few countries in Africa that properly plans ahead of time and they understand that substantial power capacity is necessary to attract investors to create economic growth and deliver electricity to its population,” said Paul Hinks (picture), CEO Symbion Energy, during the agreement’s signing.

Gwladys Johnson