The minister of State for Energy, Okaasai Sidronius Opolot, has urged private sector players to increase investment in Uganda’s energy sector, saying government has created the foundation needed to support the country’s ambition of growing the economy tenfold to $500 billion by 2040. AdvertisementSpeaking at the Uganda Chamber of Energy and Minerals (UCEM) second Annual Energy Convention recently, Okaasai said Uganda’s economic transformation agenda will largely depend on the availability of reliable and affordable energy. “Energy is not merely a sector in the transformation plan, it is the foundation on which every other pillar stands,” he said. Minister of State for Energy, Okaasai Sidronius OpolotAdditionally, Okaasai highlighted the progress made in Uganda’s energy sector, saying the country’s electricity generation has grown from 60MW in 1986 to 2,098MW today, supported by projects including Karuma, Isimba, Kiira, Nalubaale and Bujagali power plants. He noted that Uganda still needs more bankable projects, stronger project preparation capacity and domestic financial institutions equipped to assess energy sector risks.