4 days ago
Congo peace may open door for $700 million power deal with U.S. firm
US firm Symbion Power LLC plans to build a 140-megawatt gas-to-power plant and transmission lines along the Democratic Republic of Congo–Rwanda border.
Symbion Power LLC plans to build a 140 MW gas-to-power plant along the DR Congo-Rwanda border linked to a peace agreement.
The $700 million investment aims to convert methane from Lake Kivu into electricity on the Congolese side.
The development depends on ending regional conflicts and ensuring security, especially in areas controlled by M23 rebels.
US firm Symbion Power LLC plans to build a 140-megawatt gas-to-power plant and transmission lines along the Democratic Republic of Congo–Rwanda border, contingent on the implementation of a recent US-backed peace deal between the two countries.
The New York-based company said it would invest $700 million to convert methane from Lake Kivu into electricity on the Congolese side, in line with an economic integration agreement signed by both nations, according to Bloomberg.
Symbion had previously planned a smaller plant on the lake, but conflict in the region stalled development.
Much of eastern Congo, including the trading hub of Goma, the project's biggest potential beneficiary, is currently controlled by Rwanda-backed M23 rebels.
Development would require the group's withdrawal from Goma, North Kivu, and Ituri, as well as improved security, Symbion Chief Executive Officer Paul Hinks told Bloomberg.
The peace process gained momentum after Congo and M23 signed a 'declaration of principles' on July 19, though the rebels have yet to pull back.
Broader regional energy push
Symbion is also pursuing a $1.5 billion power line from Angola to Congo's copper and cobalt mining belt through its Hydro-Link subsidiary, as well as multiple small hydropower projects via its MyHydro unit.
The company previously developed two similar gas-to-power plants on the Rwandan side of Lake Kivu, which were sold in 2019.
The planned plant and power lines would take roughly 30 months to complete.
