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Rwanda-Norway discuss investment opportunities

 Top companies from the Norwegian energy sector were present at the Rwanda-Norway Energy Forum.

 
Rwanda’s energy continues to have tremendous potential for future growth as only 35 per cent of the country has access to electricity. The goal is to convert that number to 70 percent by 2018 and 100 per cent by 2024 according to the Rwanda Energy Group (REG) 
 
The Rwandan Government also has a vested interest in the project as they hope to increase the volume of investment in the country.
 
Morris Kayitare, the director of the primary and social energies development at REG weighed in by saying that off-grid energy solutions could be the way to go. He believes that this avenue would accelerate the time frame and ensure that the goals are met, especially with the assistance of the Rural Electrification Program.
 
Emmanuel Hategeka, the Chief operations manager of the RDB said that off-grid energy access is available to 7.6 per cent of Rwandans today and they plan to increase it to 22 percent by the year 2018.
 
Gulbrand Wangen, the regional director at Norwegian Energy Partners in Africa, Brazil, India and Midstream, said “the firms are here to explore investment possibilities in Rwanda.”
 
In Rwanda, Wangen said, there is a growing interest in solar renewable as well as hydropower alternatives. He also mentioned the availability of 10 qualified firms in the field in Norway as well as in Africa.
 
Mr. Hategeka also stressed that Rwanda continue to do business in an environmentally sustainable manner and meets all ethical standards, while also stating the continued relevance of transparency, and professionalism today.
 
“Our objective here is to find local firms that can support us logistically, and to know which projects are in the pipeline that relevant Norwegian firms can work with,” he said.
 
While talking about the need for an increase in the volume of investment in off-grid energy , EDCL’s Kyitare said that there are only 24 firms functioning in the sector today, of which only 4 are major companies.
 
Source : business africa
Posted On: 9/22/2017 12:00:00 AM

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