Fortis Green Renewables Investment Management, a renewable energy investment firm currently investing out of its Green Fund I, and AXIAN Energy, a division of the Pan-African Group AXIAN, recently announced the acquisition of stakes in Gigawatt Global Rwanda Ltd (Gigawatt Rwanda), a solar power plant located in Rwanda, on the grounds of the Agahozo-Shalom Youth Village in Rwamagana.
The 50-acre, 28,000 solar PV panel power plant began operations in 2014, providing reliable power to nearly 140,000 beneficiaries via its 25-year power purchase agreement with the Rwanda Energy Group. The plant was the first grid-scale solar power plant connected to the region’s power grid and has improved access to clean and renewable energy in Rwanda.
The project sits on land owned by the Agahozo-Shalom Youth Village (ASYV), a residential community situated in Rwamagana, Rwanda spanning 144 acres. Established as a sanctuary for youth orphaned during and after the 1994 Genocide Against the Tutsi, it now serves Rwanda’s most vulnerable youth – dedicated to providing education, medical and mental health services, extracurricular activities and a nurturing family environment, offering them a place of hope.
For Fortis Green Renewables, this investment represents a significant step in the development of Green Fund I, as it provides access for investors to another stable and steady operational asset located in the attractive Rwandan market. For AXIAN Energy, the acquisition marks its entry into the Rwandan market and reinforces its commitment to energy inclusion in Africa.
