Gigawatt Global’s 7.5 MW solar plant in Burundi is to become the first grid-connected project supported by the Renewable Energy Performance Platform (REPP) to begin full construction. The project is also the first grid-connected solar development by an independent power producer (IPP) in Burundi.
Full construction works on the plant in Mubuga, in Gitega Province, is set to begin imminently after Notice to Proceed was issued earlier.
REPP has been supporting the project with development capital since December 2016, and has now committed to provide a construction bridge loan. The balance of the funding will be provided by a matching construction bridge loan and equity investment from Evolution II Fund, managed by Inspired Evolution Investment Management, and further equity funding by the project developer and co-sponsor, Gigawatt Global Coöperatief.
Upon or after the project’s commercial operations date, part of REPP’s construction bridge loan will be refinanced as a 10-year subordinated loan.
Country updates
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December 19, 2019
AfDB grants financing to support 9 MW solar-hydro hybrid project
The African Development Bank-managed Sustainable Energy Fund for Africa (SEFA) has approved a US$990,000 grant to support the preparation of a 9 MW solar-hydro hybrid project in Burundi. The project c...
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August 06, 2019
IPS, SN Power awarded 147 MW Ruzizi III hydropower project
The governments of Burundi, the Democratic Republic of Congo (DRC) and Rwanda have signed an agreement with IPS, the industrial and infrastructure development arm of the Aga Khan Fund for Ec...
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February 01, 2017
Gigawatt Global held a ground-breaking for the project, which is expected to be connected to the grid by the final quarter of 2017
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March 28, 2016
AfDB approves loan for Rwanda’s first regional hydropower public-private partnership project
The African Development Bank Group has recently announced a US$24 million loan to support Rwanda’s contribution to the development of the 147 MW Multinational Ruzizi III Hydropower Pro...
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December 28, 2015
AfDB approves regional hydropower PPP in Burundi, DRC, Rwanda
The African Development Bank Group has approved US$138 million of loans and grants toward the Ruzizi III Hydropower Plant.
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