Rwanda to develop sustainable sources of energy with the help of European Union

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NewYork, Sept 26 ,2014:  The European Union(EU) signed a major deal with the Rwandan Government  here yesterday dealing with developing sustainable sources of energy.

Rwandan President Paul Kagame signed the support agreement with the  President of the European Commission,Jose Manuel Durao  Barroso, at the sideline of the Climate Change Summit.

Mr. Barroso  told that Rwanda will benefit €3.3 billion ($4b)  from  project along with five other African nations in a statement.

About €2b will be disbursed to five African countries, including Rwanda, Cabo Verde, Cote d’Ivoire, Liberia, and Togo.

Barroso also added that the EU will extend its financial and technical support to countries that are  commited to address energy issues through sustainable energy investments.

It is believed that, apart from developing sustainable sources of energy, it will also cater for various projects such as research and development, carbon pricing as means to raise funds to invest in low carbon energy.

To date, Africa is only using 12% of the world’s hydropower potential and is currently exploiting less than 10%.  Rwanda plans to increase domestic production.

Today, Rwanda generates 115MW from hydro power (53%), thermal (46%) and a small percentage from methane and solar.

President  Kagame said Rwanda wants to produce and consume more, not less. “But we want to do so sustainably and affordably. Ultimately, it is about faster progress for our people,” he added.

The expected yield from the project is peat (255MW), methane (75MW), hydro (140MW) and solar (18.5 MW).

The European Union delegation has tasked a team of technical experts to decide in what proportions the €2b budget would be allocated to Rwanda and other African nations.

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Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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