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Hydroneo has signed an agreement with Finergreen in a bid to reach a financial close on the Mpanda hydroelectric project.
- The plant will have a capacity of 10.2MW.
- Hydroneo will construct a run-of-river plant to reduce biodiversity impact.
French company Hydroneo East Africa has signed an agreement with Finergreen, an investment consulting and advisory company, for a $1 million loan to construct the Mpanda hydroelectric project in Burundi. The project is expected to reach a financial close next year. The hydropower plant will have a total capacity of 10.2MW.
Finergreen will support Hydroneo to structure the project’s operations financially. The Renewable Energy Performance Platform (REPP), a UK government-funded scheme managed by Camco Clean Energy, will also support Hydroneo to raise the total investment of $43.5 million required for the project.
Hydroneo has signed a power purchase agreement (PPA) to sell energy produced to the Régie de production et distribution d’eau et d’électricité (Regideso). To reduce the biodiversity impact of the project, developer Hydroneo will develop a run-of-river plant, which will harness the rapid flow of the Mpanda River to generate electricity.