KIGALI, Oct. 19 (Xinhua) -- Rwanda is looking for big investments in renewable energy sources in order to stimulate the country's green economic development, top government officials said Thursday.
Rwanda has a lot of untapped investment opportunities in the renewable energy sources, said Claire Akamanzi, chief executive officer of the Rwanda Development Board (RDB) at a renewable energy conference held in Rwanda's capital, Kigali.
She said Rwanda is looking for investors in various renewable energy options available across the country.
Rwanda has set clear targets in renewable energy and other power generation sources, as it is targeting to achieve 100 percent access to electricity countrywide by 2024.
Rwandan Prime Minister Edouard Ngirente in September presented the government's development strategy up to 2024, which said the country sets to increase electricity production both on and off grid to ensure that 100 percent households will have electricity by 2024 from the current 22 percent.
Rwanda hosts the international renewable energy event from Oct. 19 to 20 dedicated to advancing renewable energy for rural electrification and agricultural development.
The meeting will provide an international business and partnerships platform by highlighting attractive investment opportunities in renewable energy, according to organizers.
According to James Musoni, Rwandan minister of infrastructure, the Rwandan government is ready to facilitate investments and cooperation in renewable energy to meet and scale up green and clean energy sources in the country.
Musoni said the country aims to increase electricity access through off-grid technologies and facilitate private-sector to participate in renewable off-grid electrification
Rwanda's current energy generation is at 210.9 MW on the national grid. Of this, hydro power accounts for 48 percent, thermal 32 percent, Solar 5.7 percent and methane-to-power 14.3 percent, according to Rwanda Energy Group (REG).
REG said in a report in August that the country has achieved about 40.5 percent access rate, of which on-grid access represents 29.5 percent with off-grid access standing at 11 percent.
Rwanda has set an ambitious target to increase installed electricity generation capacity to 563 MW within the next two years which requires massive investments in the energy sector.
In May, Rwanda launched the construction of a 350 million U.S. dollar peat power plant in Akanyaru marshland, Gisagara district, Southern Province that is expected to add 80 MW to the national grid.
Last year, the country unveiled power plant projects including a mega methane gas power plant project which is expected to produce 100 MW from Lake Kivu, the world's only methane rich water body, and a 23.7 million dollars solar power plant.
