Rwanda saw its renewable energy investment plan endorsed by the Climate Investment Funds (CIF) under the CIF’s dedicated fund for Scaling Up Renewable Energy in Low Income Countries Program. (SREP)
SREP funding of USD50M will help develop financially sustainable long-term markets for the private sector provision of off-grid electricity services in the African country.
Rwanda is looking to provide access to electricity to 70% of its population by 2018, through a wide range of renewable resources.
Senior SREP Coordinator Zhihong Zhang says, “Rwanda has a very ambitious target of electrification through both on-grid and off-grid solutions. SREP support will target the development of off-grid energy markets to help bring electricity to unserved communities in rural areas, create employment opportunities and generate income.”
“SREP funding can act as a catalyst,” he says, “and will help improve the enabling environment conditions to unlock and systematically scale-up private investments.”
“About 1.5 million Rwandans are expected to benefit from the SREP program,” he added.
Robert Nyamvumba, Director of the Energy Division from the Ministry of Infrastructure in Rwanda says, “This endorsement will help to unleash the potential of the private sector to provide off-grid energy solutions using renewable energy sources.”
Source: Alternative Energy Africa