Rwanda is seeking for funding worth $5 billion to fund key energy projects for the next seven years as it moves to address its current energy deficit.

Source: theeastafrican.co.ke  

The energy projects, including hydropower, geothermal and methane gas were unveiled to more than 150 investors from across the world on Wednesday in its capital Kigali during its first energy investor conference. The country has an estimated potential of 83 MegaWatts (MW) to be exploited, with further sites with a potential of 22MW with feasibility studies to develop these projects planned with the support of the World Bank.

Rwanda’s installed capacity (off /on grid) is currently estimated at 100MW with only 11 per cent of Rwanda’s estimated 11 million population connected to the grid. Expensive and limited energy — electricity costs $0.22 per kWh compared with $0.08-$0.10 in the rest of the region — raises the cost of doing business in Rwanda, according to the World Bank. However, the government targets to have at least 1,000MW on-stream by 2017, with 50 per cent of its population having access to electricity, up from the current 11 per cent. “We have a financing need of about $5 billion for the next 7 years.

We want more committed investors with funds ready. We want more private investment because the government cannot finance these projects. We are trying to improve our regulatory framework and institutions to create a conducive atmosphere for investors,” Yussuf Uwamahoro, the Deputy Director General in charge of Energy at Rwanda’s Energy, Water and Sanitation Authority (EWASA) toldThe East African on the sidelines of the investment conference.

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