The latest Climatescope findings published by BloombergNEF (BNEF) revealed that Rwanda ranked fifth globally among countries that have created opportunities for investments in clean energy.
It said: “Through 2017, over 185,000 solar home systems and nearly 300,000 solar lanterns have been distributed throughout the country. The national utility, Rwanda Energy Group, has been cooperative in establishing demarcation zones specifically allocated for off-grid development, in order to help the country work towards a 48 per cent off grid electrification rate by 2024.”
Speaking at the Africa Green Growth Investment Forum that is underway in Kigali, Winifred Ngangure, Head of Investment Promotion at Rwanda Development Board (RDB) said: “I am pleased to share that Bloomberg New Energy Finance’s Climatescope report, published today, shows that developing nations are leading the global clean power transition and that Rwanda was ranked 5th in the world.
“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.
“We also need to find new and innovative ways to invest in activities that clean our air, ensure our people are healthy, and that expand opportunities for all.
“The health and wealth of our continent requires that we prioritise green growth. Not only to increase jobs and grow our economies, but to create a future in which future generations can realise their hopes and dreams.”