Scatec Solar and Norfund will be majority stake holders in the project, while Gigawatt Global will hold a 20% stake.
The project, which is scheduled to begin commercial operations by July 2014, is expected to improve Rwanda’s power generation capacity by about 8%.
FMO, the Dutch Development Bank, the Emerging Africa Infrastructure Fund (EAIF) and Norfund will finance the capital investment for the project.
Scatec Solar CEO Raymond Carlsen said, "Our objective has been to bring the experience gained in South Africa to other African nations, and we are pleased to team up with Norfund, FMO and EAIF and introduce large scale solar energy to Eastern Africa."
