Turkish company Hakan Mining and Electricity Generation Industry Inc. has signed a power purchase and concessional agreement with Rwanda to design, build, finance, own, operate and transfer an 80-MW peat-to-power plant on the eastern African country’s marshland area of Gisagara, located on the border with Burundi.
Hakan says it is developing the $400-million plant over a 47-month period, with financing arranged by the African Finance Corp. almost five years after the company approached the Rwanda government as an unsolicited bidder to develop the project, the largest such project in Africa.