Energy sector turns to private investors

Energy sector is broad and needs effort from various partners, including the private sector, that should see it as a lucrative area of investment.
The energy sector needs a boost. The New Times/ File.
The energy sector needs a boost. The New Times/ File.

Energy sector is broad and needs effort from various partners, including the private sector, that should see it as a lucrative area of investment.

Senior government officials said this, yesterday, at a news briefing to inform the public about the resolutions of the just-concluded 10th National Leadership Retreat that ended at the weekend.

Prof. Silas Lwakabamba, the Minister of Infrastructure, said his docket was among the most discussed at the three-day retreat during which it was agreed that government should look at attracting more investors, both from within and without, to tap into the energy sector.

“The private sector should be involved in energy sector. We are dealing with geothermal energy, solar and hydro-power among others,” said Prof. Lwakabamba.

He said though country plans to have 1,000MW by 2017, the minimum target would be 563MW. Prof. Lwakabamba said energy was among sectors that failed to achieve its targets, adding that the plan is to add 80MW to the national grid by June next year.

“The demand for energy is higher than the supply, forcing load-shedding in some areas,” said Prof. Lwakabamba

Private investors interested

Clare Akamanzi, the acting CEO of Rwanda Development Board, said private investors have expressed interest in investing in the sector.

She said there are ongoing projects under implementation, citing the Amerian-owned KivuWatt project, which targets 100MW and expects 25MW of them to be on the grid by the end of the year.

Claver Gatete, the Finance minister, said energy was indispensable in the country’s development, and also underscored the importance of promoting technical and vocational skills in the country.

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