Rwanda has received US$150 million funding from the World Bank for the implementation of Energy Access and Quality Improvement Project (EAQIP).
The funding consists of a US$75 million grant and a US$75 million loan for the implementation of the Rwanda Energy Access and Quality Improvement Project (EAQIP).
Under the EAQIP, the Government of Rwanda plans to expand grid connections for residential, commercial, industrial and public customers.
The government also plans to subsidise the deployment of off-grid solar systems.
It will also increase access to an efficiency of low-cost renewable energy in the country by restoring the generating capacity of the Ntakura hydropower plant, reducing voltage variations on transmission lines, and supporting the national smart meter installation programme.
According to the World Bank, these various initiatives will provide 2.15 million people with access to “reliable, sustainable, modern and affordable” electricity.
EAQIP will also help reduce Rwanda’s dependence on polluting cooking fuels by 50 percent. The Rwandan government hopes to provide universal access to electricity by 2024 and to clean cooking fuels by 2030.
At least, an additional US$20 million will be injected into the EAQIP project through the Clean Cooking Technologies Fund (CCF) hosted by the World Bank’s Energy Sector Management Assistance Programme (Esmap).
This additional funding consists of a US$10 million grant and a US$10 million loan.
According to the World Bank, CCF plans to mobilise US$30 million in public and private investment as part of the Rwanda Energy Access and Quality Improvement Project.