The government of Rwanda has signed a memorandum of understanding (MoU) with Ignite Power Ltd, a company backed by global institutional trading network Liquidnet.
The MoU provides the framework for large scale deployment of solar electric systems across rural communities in Rwanda following the successful implementation of a pilot project of 1,000 households. The government of Rwanda and Ignite will then enter into a long-term agreement whereby Ignite will install between 250,000 and 1 million solar electric systems across the country.
Ignite Power is engaged in large scale deployment of clean energy solutions in Africa. The Ignite Power project is the second step in the Clean Access Initiative for rapid deployment of clean energy across Africa which was developed together with Bloomberg New Energy Finance. The company is backed by Liquidnet and the Agahozo-Shalom Youth Village (ASYV), a community devoted to educating and nurturing orphaned teenagers in Rwanda. The ASYV is the global charitable partner of Liquidnet For Good, Liquidnet’s corporate impact program that leverages the group’s resources to imrpove societies around the world.
Clean Access Initiative Chairman Yariv Cohen said, "Clean energy is the best solution for Africa power needs. Distributed solar energy is enabling communities to leapfrog beyond the grid and bring power quicker and cheaper to African communities. We are proud to partner with the government of Rwanda and take part in this transformational effort of deploying access to energy at large scale."
The project is part of Rwanda’s Vision 2020 plan to increase access to electricity in the rural communities.
Rwanda Development Board Chief Executive Officer Francis Gatare said the project would "enable energy access in places that would be hard to connect to the main grid. We believe renewable energy projects like this have multiple advantages by providing clean and environmentally-friendly energy."