He added that CountourGlobal also works in Europe on Coca Cola projects and others. In Rwanda, the company began in 2005 and has contributed one million U.S. dollars as capital.
“We are on 4 continents and 14 countries. In Bulgaria, we are involved in the extraction of methane gas. In Brazil, we work in solar and wind power from which we want to generate 600 MW. I have been in negotiations for the contract, just before KivuWatt,” he revealed.
The CEO said his company requires government subsidies for solar and wind energy because of the high costs involved. CountourGlobal is constructing solar energy sources which will produce 10 MW from 43 panels.
“With Kivuwatt, we can make a firm commitment. We have experience in our surveys. We are in Rwanda for the long term. We will produce 100 GW in Lake Kivu. An agreement was signed with the Government,” said Berry.
The gas is extracted from 250 meters deep
“We want to reduce energy costs, mitigate risks on the environment and provide energy security, because Rwanda will no longer import electricity,” he said. The first production phase for 25 MW will be completed this year 2012. While the second phase of 75 GW will require much bigger capacity for Kivuwatt.
“We take care of finances. This is the biggest project in terms of funding,” said Berry. He told participants at the Forum on Energy that Lake Kivu contains 65 cubic meters of methane gas. As for volcanic eruption, Berry indicated that the scientific community is convinced that “we will reduce environmental risks and that we will ensure energy security.”
ContourGlobal has more than 30 contracts with countries
For the Project Kivuwatt, the barge is 64m by 35m located 13km into the lake. Under the barge is a structure that brings the gas and water, which is followed by their separation wherein the methane gas is separated from CO2.
To produce 25 MW, it took US$140 million. CountourGlobal financed 35% equity. The construction of the barge began in December 2011, and the company should have obtained funding to complete the project. The World Bank’s arm, MIGA, helped in these transactions. It insured investment and expropriation problems.
In 2010, began construction of the barge begun. In August, funding was availed. In September 2010, it was the launch of the plant. The CEO added that the project was facing an emerging financial market by 2013 with greater transparency. Government officials involved in this project will keep on their mind that this is an initiative that will bear fruit for the benefit of the population, said Berry.
In conclusion, the CEO of ContourGlobal said that the beginning was tough, which is common in such cases. “But ultimately it was a good experience for me and Rwandans. This is a good model to fund and we can finish by December 2012,” he indicated.
On a personal note, Bill Berry testified at the Forum that Rwanda is a beautiful country, which he called his second home. “People are generous and honest,” he said. Berry ended his presentation by acknowledging that “this experience has been positive for him.”