Rwandan government signs usd 250mil biofuel deal
A deal to produce biofuels to replace up to 20% of Rwanda's fossil fuel requirement was signed today (23rd November) by US company Eco-Fuel Global and the Rwandan government. The agreement estimated to be worth in excess of 0m will see Eco-Fuel Global producing biofuels from Jatropha Curcas.
Mark O'Brien, CEO of Eco-Fuel Global, said on behalf of the investors: "This marks the beginning of one of the largest sustainable biofuel projects in the world. Rwanda is leading the world in a new generation of environmentally friendly and economically responsible energy production." This deal is part of a larger Sub-Sahara Africa bio-fuel strategy by Eco-Fuel Global.
The signing ceremony held at the Rwanda Development Board (RDB) head office was witnessed by the former British Prime Minister Rt. Hon. Tony Blair, whose office supports this project. Signing on behalf of the government was the State Minister for Energy, Albert Butare, who said: "It is a significant step forward in giving our nation greater energy security; essential to our economic success."
The RDB's CEO Joe Ritchie noted that the coming in of the two firms is a sign of Rwanda's potential as an investment friendly country and it also highlights the country development path that prioritizes the use of domestic resources to achieve its goals. The deal will see the two companies grow Jatropha Curcas on 10,000 hectares of marginal land near Akagera National Park, from which they will be extracting an estimated 20 million liters of bio-fuel annually.
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