Rwanda, Burundi and Democratic Republic of Congo will meet with potential investors in March to finance construction of a $500m hydropower plant.
The meeting in Kigali, the Rwandan capital, will include the European Investment Bank, the African Development Bank and the German government, said Gedeon Nizeye, director of geology at Burundi’s Ministry of Energy and Mines, reports Bloomberg.
The three neighboring countries will be equal partners in the construction of the 147 MW, Ruzizi 111 hydropower project along their common border and will share the energy produced equally, he said.
“We have been united by the common problem of power shortage,” Nizeye said. Work may start on the project in 2013, with completion two years later, Nizeye said.
Burundi, which produces 65 MW of power against demand of 300 MW, has identified ten sites for hydropower projects that would lead to an energy surplus if developed, he said. The extra power would help fuel targeted development in the nickel industry.
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