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.
The World Bank Group and the Cambridge Centre for Alternative Finance (CCAF), based at the University of Cambridge Judge Business School, have published a joint report that examines a wide range of financing solutions for delivering Off Grid Solar (OGS) electricity to more than 840 million people still living without access to reliable power.
The report, Funding the Sun – New Paradigms for Financing Off-Grid Solar Companies, explores an array of innovative as well as traditional financing solutions for providing electricity access to hundreds of millions of people, predominantly in sub-Saharan Africa. It also offers guidance for companies seeking to deploy their OGS solutions by outlining which financing option best suits their specific approach, the preconditions for each financing option, and the associated opportunities and challenges.
The recent Off-Grid Solar Market Trends Report 2020 by the World Bank Group and GOGLA (the OGS industry association) highlighted that, in order to achieve universal access to electricity by 2030, the OGS sector would need between $6.6 billion and $11 billion in additional funding.
EmNEW and NRC Ethiopia sign agreement
The project, “Scaling Solar for Humanitarian Operations in Ethiopia” intends - following a 6 months feasibility study - to finance, construct and operate solar power plants for 2-3 refugee settlements in Ethiopia. In addition to NRC, EmNEW and Ethiopian developer Ethio Resources Group (ERG), the project is co-financed with a grant from Innovation Norway.
The study will also seek to evaluate the potential demand for electricity around the refugee settlements, with the aim of extending the solar distribution network from the refugee camps to neighbouring communities. The lessons learnt will also be documented and used for scaling-up the project as well and disseminated to other parties for knowledge sharing and replication.
An agreement has been signed to construct two solar power plants in the Afar and Somali region. According to the press release which issued at the Hilton Hotel in December 19/2019. The accord has signed between the Ministry of Finance, Ethiopian Electric Power and ACWA Power Company.
Teshome Tafese (PhD), State Minister of Finance announced that the two solar power projects will be built at Gad, in the Somali Regional State and the second project will erect at Dechoto, in the Afar Regional State.
The state Minister, also pointed out that, the two solar projects have an installed capacity of generating 250 MW, each having a capacity of 125 MW of power worthing USD 300 million for construction.
According to Dr. Teshome, the agreement will play a significant role engaging the private sector in the energy development thereby bouncing the energy sector and alleviating the government’s debt burden.
|08 May 2020;|
08:00AM - 05:00PM
Call for Publishing Opportunity