New Delhi, 11 March 2018: His Excellency Paul Kagame, President of the Republic of Rwanda and Chairperson of African Union has said that the world demand in solar energy can only be met if the private sector comes in to support efforts of governments in this sector which has huge returns on investment.

This is a stand that President Kagame shared to thousands of participants of the International Solar Alliance (ISA) Founding Summit in New Delhi – India; Co-hosted by India and France. ISA is a treaty-based international inter-governmental alliance of 121 solar resource rich countries collaborating to achieve speed, scale and skills for deploying available solar technologies.

Speaking at the Summit, President Kagame pointed out that solar power is the answer to climate change."The sunniest countries on Earth should not lack for energy. The fact that they do is an unacceptable irony. It is therefore fitting that more than half of countries that have signed and ratified the International Solar Alliance treaty are African." President Kagame said.

The President added that solar power will not address all of Africa’s energy needs. “What is important is that we continue to work together through this new institution and beyond, to put our collective resources and knowledge at the disposal of our planet’s future.

 Solar as a source of energy is part of the solutions to climate change as it is a clean energy source. However, to speed adoption and get the environmental benefits, solar energy has to be at least as reliable and affordable as other energy sources. We are not just protecting the environment; we are protecting people and their well-being.

“To meet the Sustainable Development Goals and the African Union Agenda 2063 targets, tremendous expansion in energy production is required in almost every African country. The International Solar Alliance’s twin mission of facilitating technology transfer and innovative financing is timely,” he said. “Solar power will not address all of Africa’s energy needs, but it will continue to grow in importance as part of our continent’s energy mix,” he added.

Rwanda is among nations adopting solar energy solutions as part of the country’s energy mix. Among the notable solar installations include an 8.5MW plant in Rwamagana district, and mini-solar energy installations in rural areas.

 “In Rwanda, an 8.5MW solar power plant in Rwamagana District has already helped to stabilize daytime power supply in Eastern Province. The facility has also demonstrated that we can do much more,” he said. To raise funds required for solar investments in coming years, President Kagame said that public-private partnerships would be an ideal avenue as governments alone cannot raise required funds. “The one trillion dollars needed for solar investments globally in the coming years will obviously not come from governments alone. Public-private partnership is required. 

The International Solar Alliance’s proposed tool to mitigate credit risk sends an important signal to the market that solar energy is a viable business,” he said.