Inaugurating the delayed Genale Dawa (GD-III) hydroelectric power project on Tuesday Prime Minister Abiy Ahmed (PhD) made an appeal to local investors to build the next phase of the hydroelectric project GD-6, in the same river basin that requires an estimated financial outlay of USD one billion.
According to the PM, the latest offer is issued for the first time to the private sector to get involved in the power production sector. Expressing the government’s desire of allowing the private sector in power generation, the PM said the government may consider offering the project to foreigners, if the local investors fail to take advantage.
The new hydropower project will help enhance the economic benefits of Genale and Dawa communities through expanding irrigation development, the Prime Minister said. He added that on top of providing electric power to the community, the project will boost irrigation developments in the area that will enable to sustain food security.
Ethiopian Prime Minister Abiy Ahmed on Tuesday inaugurated the Chinese built 254 Mega Watts (MW) Genale Dawa III hydro dam project. The Ethiopia Minister of Water, Irrigation and Electricity, Seleshi Bekele and Ethiopia Minister of Innovation and Technology, Abraham Belay also attended the hydro dam inauguration ceremony.
The hydro dam project built by the China Gezhouba Group Corporation cost around 451 million U.S. dollars with the majority of the money needed to finance the project sourced through loans from the China Export-Import Bank. Speaking to Xinhua, Moges Mekonen, Communication Director at Ethiopia Electric Power (EEP), said the 254 MW Genale Dawa III hydro dam is expected to fill a critical gap in Ethiopia's ongoing efforts to meet the energy needs of the country's estimated 110 million people.
The technology group Voith has signed a comprehensive service and operations consultancy contract for the Ethiopian hydropower plant Gilgel Gibe II during the „G20 Investment Summit” on November 19 in Berlin, Germany. The agreement was signed by the Ethiopian Minister of Water, Irrigation and Electricity Dr. Seleshi Bekele and Mark Claessen, Managing Director Voith Hydro East Africa in the attendance of Peter Altmaier, the German Federal Minister for Economics and Energy. The investor summit took place within the „G20-Initiative Compact with Africa“. Twelve Heads of State of the African Compact partner countries as well as South Africa, acting as G20 partner of the intitiative, were attending the summit.
Off-Grid Solar Industry Grows into a $1.75 billion Annual Market, New Report Shows
The off-grid solar industry has grown into a $1.75 billion annual market, providing lighting and other energy services to 420 million users and remains on a solid growth curve, a new World Bank Group and GOGLA report shows.
The 2020 Off-Grid Solar Market Trends Report finds that the industry has made tremendous strides in the past decade. Since 2017, revenues from the off-grid solar industry continue to rapidly grow, increasing by 30 percent annually. To date, more than 180 million off-grid solar units have been sold worldwide and the sector saw $1.5 billion in investments since 2012.
With 840 million people still lacking access to electricity, the growth of the off-grid solar industry is critical to meeting the Sustainable Development Goal (SDG7) for universal access to affordable, reliable, sustainable and modern energy by 2030.