Gigawatt Global Rwanda Ltd
- Region: Africa
- Country: Rwanda
- Sector: Energy - solar
- Year: 2014
- Domicile: Rwanda
- Instrument: Equity and loan
- Commitment (MNOK) as of 31.12.2016: 36.6
- Original Commitment (MNOK): 30.7
An 8.5 MW solar PV project in Rwanda. The project was built in 2014 and became operational later that year. Shareholders are KLP Norfund Investment Ltd, Norfund and Scatec Solar.
Although the power plant is relatively small compared to Norfund and Scatec Solar’s other solar investments, its output is close to 10% of the maximum capacity of Rwanda’s power grid and the plant is making a significant contribution to meeting the growing demand for power in the country.
Speaking at the opening of the plant, Rwanda’s Minister of Infrastructure, James Musoni, said: "Generation and provision of electricity to all Rwandans is a priority for the [Rwandan] government. This plant produces 8.5 megawatts of clean energy and is an important addition to help close our current energy gap."
Through its rental payments, the project provides financial support to the Agahozo-Shalom Youth Village, a local school for orphans of the Rwandan genocide.
Equity for the project was provided by Scatec Solar, Norfund, and KLP. Senior debt financing was made available from the Dutch development bank FMO and the EAIF.
The solar project was the fourth joint investment by Scatec Solar and Norfund at the time and demonstrated the benefits of building partnerships with industrial companies which are able to replicate and expand successful business models.