Rwanda is seeking to mobilise $1 billion in private investment as part of its plan to double electricity generation capacity and achieve universal energy access by 2030. This was highlighted during the Africa Energy Forum (AEF) 2026 in Cape Town, South Africa, where the Minister of Foreign Affairs and International Cooperation, Olivier Nduhungirehe, participated in the launch of the Rwanda Energy Compact, an initiative aimed at attracting investors to Rwanda. ALSO READ: Renewable energy’s share in Rwanda reaches 52% Nduhungirehe reflected on Rwanda's remarkable energy journey, noting that electricity access has increased from just 1 per cent in 1994, following the Genocide against the Tutsi, to more than 86 per cent today. He reaffirmed Rwanda's commitment to achieving universal energy access by 2030 through a fully costed $3 billion investment plan aimed at doubling the country's generation capacity, including the mobilisation of $1 billion in private-sector financing. ALSO READ: Rwanda’s energy journey over the past decade The plan targets expanding Rwanda's installed electricity generation capacity to 1,066 megawatts (MW) while ensuring universal electricity access by 2030. Investment will focus on increasing generation capacity and attracting private capital through renewable and emerging energy technologies. Nduhungirehe also underscored the importance of regional electricity integration in supporting Africa's industrialisation, arguing that individual countries cannot achieve large-scale economic transformation in isolation. ALSO READ: Rwanda mulls generating 200MW from solar energy To achieve this, we need greater involvement from the private sector. Private-sector investment remains relatively low, and we need to increase it to about $1 billion to ensure that every Rwandan has access to electricity, Nduhungirehe said. We understand that energy is not an end in itself; it is a tool for development. Rwanda is a developing country at the heart of Africa, and we need to industrialise. We must build a vibrant economy with strong industries that can produce locally made goods, helping to reduce our trade deficit. Launching the Rwanda Energy Compact in Cape Town, Nduhungirehe called on both public and private partners to invest in the country's energy strategy. We are calling on public and private partners to invest in our strategy to achieve universal access to energy by 2030. Regional integration in the energy sector is also important. Ultimately, our goal is to ensure that Africa produces enough energy to sustain its industries and enable the continent to become the global economic powerhouse it has the potential to be, he added. Hydropower remains a key pillar of Rwanda's energy expansion strategy, with several projects under construction, in the planning phase, or undergoing feasibility studies. Among the major projects is the Nyabarongo II Hydropower Plant, which is expected to generate 43.5 megawatts. ALSO READ: AfDB approves $180 million loan for universal electrification Other ongoing developments include the Rukarara VI Hydropower Plant, which will generate 9.7 MW and is currently 26 per cent complete, and the Nyirahundwe Hydropower Plant, with a capacity of 0.91 MW, which has reached 71 per cent completion. There are also energy generation from methane gas extracted from Lake Kivu. Currently, methane gas projects by the companies KivuWatt and Shema Power Lake Kivu (SPLK) supply about 21% of national electricity (82 MW). The government project to increase this capacity to increase to 100 MW. The Rwanda Energy Group (REG) also highlighted the Rusizi III Hydropower Project, a 206 MW regional initiative being jointly developed by Rwanda, Burundi and DR Congo. Meanwhile, feasibility studies are underway for additional hydropower projects, including the expansion of the Ntaruka Hydropower Plant. Solar energy is also expected to play an increasingly important role in meeting future electricity demand. Planned projects include the 30 MW Mpanga Solar PV plant in Kirehe District, the 200 MW Nyabarongo II Solar PV project, and the 4.13 MW Izuba CB Energy Rwanda plant, among others. According to REG, at least $3.2 billion will be required to implement the country's 10-year energy strategy. Funding will be mobilised through a combination of concessional loans, climate-finance instruments, green bonds and carbon credits.
