It is an 8.5 Megawatt (MW) solar field at the Agahozo-Shalom Youth Village (ASYV) in the southeast of the country.
The Rwanda field – constructed in the shape of the African continent – brought together an international consortium of financing partners.
Debt was provided by FMO (Netherlands Development Finance Company) and the London-based EAIF (Emerging Africa Infrastructure Fund); mezzanine debt provided by Norfund (the Norwegian Investment Fund for Developing Countries); equity from Scatec Solar ASA (who also served as EPC contractor and serves as O&M provider), Norfund and KLP Norfund Investments (a vehicle jointly owned by KLP, the largest pension fund in Norway, and Norfund).
Grants were received from the United States Government via OPIC’s ACEF (Africa Clean Energy Finance) grant and from the EEP (Energy and Environment Partnership) Programme, a partnership of the British, Norwegian and Austrian governments. SEDI Labs served as a key project development partner. Norton Rose Fulbright from London served as the international legal counsel.
“Top quality developers like Gigawatt Global are the keys to success for President Obama’s Power Africa Initiative,” said Elizabeth Littlefield, President and CEO of OPIC. “After OPIC provided critical early-stage support through the ACEF program, Gigawatt smoothly and swiftly brought the project online to give Rwanda enough grid-connected power to supply 15,000 homes. Gigawatt Global in Rwanda is a clear demonstration that solar will be a key part of Africa’s energy solution.”