One step closer to clean energy for 30 million people in Africa

The first Public-Private Partnership (PPP) project to generate renewable energy from shared resources in Africa came closer to reality following the signature of a key agreement to enable preparatory works to commence.

The Ruzizi III hydropower project will generate reliable electricity from the Ruzizi river to be shared equally between the Democratic Republic of Congo, Burundi and Rwanda.

The regional renewable energy project will benefit an estimated population of 30 million people, 70% of whom are living under the poverty line and at present only 6% of whom can access electricity.

“The European Investment Bank, the European Union, and the project financiers have worked closely with Burundi, Rwandan and DRC government for more than 10 years to ensure that Africa’s first three-country PPP clean energy project can become a reality and ensure access to electricity for millions of people. The new agreement demonstrates the European Union’s firm commitment to supporting renewable energy in Africa and unlock the support of private investors for sustainable development,” said Ambroise Fayolle, European Investment Bank Vice President.

On February 20, Domicien Ndihokubwayo, Finance Minister of the Republic of Burundi, and representatives of the European Investment Bank signed a EUR 9.1 million grant agreement to enable preparatory work to commence. This follows the signature of the grant agreement in January by the Finance Minister of

Original source: EIB
Published on 20 February 2020