Industrial Promotion Services and Norway’s SN Power have signed a 25-year concession agreement and power purchase agreements for the Ruzizi III hydropower plant with the governments and power utilities of Burundi, Democratic Republic of Congo and Rwanda. The 147MW run-of-river project on the Ruzizi River is structured as an IPP and will be developed on a build, own, operate, transfer basis, the developers added. The project is expected to reach financial close in 2021 and to be operational in 2025-26.