Insufficient energy in Rwanda is not only one of the country’s biggest challenges, but also one of its biggest opportunities.

During a working visit to Rwanda, Overseas Private Investment Corporation (OPIC) President Elizabeth Littlefield said, “The power sector is clearly the biggest challenge but also the biggest opportunity. We will encourage US investors to come and venture into hydropower, geothermal, wind, solar, and biogas.”

OPIC is a United States Government’s development finance institution. It provides loans and guaranties, political risk insurance and support for investment funds to help American businesses expand into emerging markets. OPIC has already invested $26 million (R281 million) to cover financing and insurance for five active business projects in Rwanda.

Government intends to increase its production to at least 563 MW by 2018 through the use of various energy sources including methane gas, peat, solar, and biogas.Only 16% the population has accesses to Rwanda’s current electricity production of 110 MW.

The country’s energy sector remains attractive for investors and Littlefield says OPIC officials are excited to help trigger more investments in Rwanda. American investors have already invested in coffee and tea processing, forestry and agriculture investment management, and humanitarian services in Rwanda.

Rwanda’s Finance minister Claver Gatete says the country’s environment is open to investors and encourages OPIC to continue investing.