Hydropower Plant Feasibility Study in Rwanda

Delphos served as a USTDA-funded financial advisor to the Government of Rwanda’s Ministry of Infrastructure for the financing of two greenfield, run-of-the-river hydropower facilities, a 27.8 MW capacity facility in Nyaborongo and a 9.5 MW capacity facility in Rukarara. Delphos analyzed alternative ownership and financing structures to meet a variety of objectives, advised GoR on discussions with the World Bank and the IMF regarding external financial covenants to permit a government-guaranteed financing, and analyzed impacts on levelized tariffs using a detailed proforma financial and economic model.



  • Renewables & Power

Client Name

Government of Rwanda

Services Provided

  • Transaction Advisory


  • Sub-Saharan Africa


  • Rwanda