NAIROBI - The East African region has a huge renewable energy untapped potential, which investors should help the region to exploit. According to Minister of State in charge of Energy in the Rwanda Government, Dr Albert Butale, the region’s potential sources of renewable energy such as wind, geothermal and natural gas are largely unexploited. “It is time the investors looked beyond the traditional sources of energy,” he said, noting that majority of households in East Africa especially in the rural areas still rely on fuelwood and charcoal for cooking. Dr Butale said maintained that there is a ready market for such investors because all of the five East African countries—Kenya, Uganda, Rwanda, Tanzania and Burundi—have a power deficit.“What better incentive can any investor want than a ready market?” he said. He told participants at the ongoing Second EAC Investment Conference in Nairobi that, with only 20 per cent of the region’s population accessing energy, demand will continue to increase. Speaking at the same function, the executive director of Uganda’s Energy Regulatory Authority, Dr Frank Sebbowa, said the five EAC countries have put in place favourable regulatory frameworks to facilitate their investments. “Each country not only boasts of a vibrant regulatory body, but also a favourable regulatory regime that is supportive of both local and foreign investors,” said Dr Sebbowa. Ends
