Rwanda is all set to receive an extra 56 MegaWatt of electricity after the installation of a $200 million energy plant by Symbion Power on the shores of Lake Kivu.

The plant will start generating electricity in the next 14 months, according to the agreement signed with the government.

In contrast to most investments in infrastructure, Symbion Power will not seek funding from a lender or financer to implement the project as they have already mobilized funds to implement the project.

The development will add impetus to the government efforts towards achieving 512MW installed power generation capacity by 2024 from the current 221MW.

The development of this project will add momentum to the government's efforts in achieving 512MW installed power generation capacity by 2024 from the current 221MW.

The government remains optimistic that by 2024 this and other investments will result in universal access to electricity.

Investments of about $ 491 million currently reside within the local energy sector

Infrastructure Minister Claver Gatete welcomed the development, saying that the investor's experience required a great deal of diversity in the sector.

Gatete also went on to say "We cannot achieve the target without investors like Symbion in the private sector" 

Rwanda is riding on projects such as the under construction Hakan Peat, which is expected to add 80MW to the grid, and the Rusumo Hydro - electric project, which is expected to add 26.7MW to the grid.

The expected increase in generation capacity is consistent with expected demand from sectors such as construction in the development of secondary cities, mining and quarrying, which will be characterized by new modern methods of mining as well as metal product processing.

The expected increase in generation will greatly reduce the dependence on fuel which is currently at 27% to about 5% in turn reducing the import bill.

According to Ron Weiss, REG (Rwanda Energy Group) Chief Executive, Rwanda's energy demand is still estimated at around 140MW of the 221MW installed.

Weiss said they are working to increase transmission lines from the current 486 kilometers (as of December 2018) to about 1500 kilometers, while substations will increase from 27 to 45 by 2024, in order to increase access to energy.

REG also has enormous ambitions to connect 200,000 households annually to the grid and 300,000 households off - grid to meet the targets of 2024 access.

A total of 1.2 million households are currently connected to the energy grid with 51 percent access.