The country is rich with hydro and geothermal power potential. With only 16% of the population currently having access to electricity, grid expansion is a top priority. The government and private sector is very keen to use the CDM to lower supply costs.
Tricorona in collaboration with the Belgium government, is currently in Kigali, meeting with project developers, government agencies and NGOs to identify a first round of renewable energy projects to be registered under the UNFCCC’s CDM mechanism. The transaction costs to receive CDM support are slashed by over 50% for so-called Component CDM Project Activities because of the CDM EB’s tireless work to streamline the procedures and requirements.
“I want this country to use carbon finance to reach our development goal and I want this to happen now” said Dr. Rose Mukankomeje, Director General of REMA, the government agency in charge of CDM approvals.
“The country has a growth rate of over 8% annually and is ready to accommodate foreign and private investments. The CDM can help achieve its ambitious goal to add 1000 MW of renewable energy faster” says Susanne Häfeli-Hestvik, Tricorona Climate Partner’s Managing Director and moderator of the workshop.
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