In a global study on clean energy conducted by Bloomberg, Rwanda has ranked fifth place among international countries making the transition to clean power.
In its seventh year this year, the Climatescope study, is a country by country assessment that evaluates investment conditions for clean energy in emerging markets. This year, it profiled 103 international markets, with Rwanda improving 11 places this year as a result of the growth it has made in its off-grid market.
Launching the report in Kigali today, Head of Investment Promotion at Rwanda Development Board, Winifred Ngangure said: “This demonstrates that you don’t need to have the largest market to promote investment in key areas such as green growth. Rather, it requires a long term vision, clear targets, a plan for attracting investments and a regulatory framework that encourages innovation, but discourages activities that pose a threat to our health and that of the environment.”
On ranking Rwanda the fifth easiest country globally to invest in green energy, the report said: “Despite being one of the smallest countries in Sub-Saharan Africa, Rwanda’s electrification rate has quadrupled in the past seven years, from 10 percent in 2010 to 44 percent in 2017. The Ministry of Infrastructure has set an ambitious 100 percent electrification target by 2024, and has drafted a National Electrification Plan to help on-grid players in reaching this goal.”
Further, the report said among the contributing factors to Rwanda’s improved position in the study is the surging electricity demand, sinking technology costs and innovative policy-making have allowed developing countries to to implement clean energy into their energy mix.