Rwanda will invest about $1 billion in geothermal energy development in the next five years, The New Times newspaper reports Thursday, citing Stephen Alumasa, a consultant at the Energy Water and Sanitation Agency.

The money will be spent on power plant construction, well drilling, infrastructure development, and drilling materials and services, Alumasa told the state-run daily.

"We have already signed a $7 million contract with China Petroleum Technology and Development Corp. to supply drilling materials," Alumasa is quoted as saying.

Aimable Habinshuti, acting head of the geothermal unit at the agency, told the daily that drilling materials will be delivered in less than five months.

The agency wasn't immediately available for comment.

Well drilling in areas thought to have geothermal potential, such as the slopes of Mount Karisimbi , Kinigi and Gesinyi in the north western region will soon begin, Alumasa said.

The Rwandan government expects to be producing at least 300 megawatts of power from geothermal energy that will account for nearly half of its energy needs by 2017, the agency said.

Currently, Rwanda produces at least 54% of its power using costly fossil fuels and much of the remainder by hydro-generation. It is also in the process of increasing its use of the huge deposit of methane gas in Lake Kivu .

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