Belgian’s Deputy Prime Minister Didier Reynders has urged investors from his country to tap into unlimited opportunities in Rwanda’s Energy sector.
Reynders accompanied by Belgium Cooperation Minister, Alexander De Croo have been in Rwanda for a working visit that aimed at discussing how to improve investment and trade deals between the two countries.
“I am told there are huge opportunities in Rwanda’s energy sector. I am going to mobilise investors in my country to come and explore these opportunities,” Reynders told journalists in Rwanda’s capital Kigali.
Rwanda wants to increase access to electricity to 70% of households by 2017, up from current 22%. Belgian Development Agency (BTC), contributed €18million to support the programme.
Rwanda currently depends on 119MW capacity, out of a targeted 563MW in the next 4 years.
To fill the current gap in its energy sector, Rwanda will this year import over 400MW from neighbouring Ethiopia and Kenya.
According to Jean Bosco Mugiraneza, CEO of Rwanda Energy Group, the country expects more energy from ongoing domestic projects.
They include 28MW from Nyabarongo power project that is already connected to the national grid.
Others in the pipeline are Kivuwatt 25MW, Gishoma Peat Plant (15MW) and Giggawatt Solar power plant 8.5MW.
Rwanda’s President Paul Kagame has had numerous trips overseas including in UK, Dubai, South Korea, India and Indonesia, seeking investors to fund the country’s bigger projects worth $23bn, including energy sector worth $2.7billion.
Meanwhile, once Minister Reynders sells the idea to Belgian investors to invest into Rwandan energy sector, major Belgian energy companies like Electrabel, Sibelga; Essent, ENI Gasa and Power as well as Luminus, could be interested.
The above companies have globally expressed exceptional specialization in natural gas and renewable energy, among others.
By: Dan Ngabonziza