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Hakan-Quantum Biomass Fired Power Plant

Region and country of operations: Africa, Rwanda
Jurisdiction of registration: Rwanda
Business sector: Biomass fired power plant

Date of agreement (month/year): 10/2016
Finnfund’s financing: USD 10,000,000, USD 5,000,000
Share of Finnfund’s financing: 30.1%, 15,4%
Size of project/financing: USD 325,000,000
Environmental and social category: A

Project description

Yumn Ltd will construct, own and operate a 80 MW peat fired power plant in Rwanda. The company also has a long term-concession for harvesting the fuel. The power will be supplied to the national grid. The project will have Finnish boiler and other power-related technology as well as peat harvesting technology. The project will also benefit from Finnish operations and maintenance experience having Fortum as the O&M contractor.

Main development impact

Direct and indirect jobs in a poor area. Access road has already enabled scheduled bus transportation for the first time ever to that area, which will bring business and educational opportunities to the people living in that part of the country. Power generated with a domestic fuel, of which the country has plenty. This will decrease the need to import more expensive oil based fuels, which will improve the trade balance of Rwanda. CSR programme will support the local communities with potable water, education and health related issues.

More information

http://hqpower-rwanda.com/

Hakan-Quantum Rwanda