Lake Kivu methane gas project gets $100 million boost

• 7 years ago (2017-09-22)
• David Flin

Africa 320 Gas 393

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Symbion Energy and Highland Group Holdings Ltd (HGHL) have signed an agreement under which HGHL will invest $100 million towards the extraction of methane from Lake Kivu, on the border between Rwanda and the Democratic Republic of Congo. This agreement will enable the raising of the total of $370 million required to extract gas for the generation of 106 MW.

Lake Kivu contains an estimated 55 billion cubic metres of naturally occurring methane. The total power generation potential of the resource has been conservatively estimated at more than 500 MW over 40 years.

Paul Hanks, CEO for Symbion Energy, said: “We are very excited about our new partnership with HGHL. They are injecting $100 million of cash equity into the Rwanda projects of Symbion Energy. The work will begin in earnest in November 2017, and this funding means that we can fast track at least 22 MW of power within 18 months.”