Ethiopia remains steadfast in its course to diversify the energy mix and utilize all energy sources to attain economic development objectives, according to Ministry of Finance.
The country plans to increase total energy generation by 17,000 until 2030 by diversifying the abundant sources of energy. Despite the different exploitable energy sources, Ethiopia has been solely engaged on hydropower generation, which couldn’t meet the growing development demands, the statement indicated.
After the reform, the government is encouraging the engagement of the private sector in the energy sector, especially in the form of Public Private Partnership (PPP) projects, it stated. Dozens of Public Private Partnership (PPP) projects have been engaged in developing variety of projects across Ethiopia, it was learned.
Currently, there are twenty-three large PPP projects that have sites identified, feasibility studies done and ready for procurement processing, it said. These include eight solar photovoltaic, five hydroelectric projects, five wind, three roads, one housing, and one petroleum depot which have been approved by the PPP Board.
According to the Ministry, Ethiopia has huge solar energy potential due to its geographical location near the equator. The eight PPP solar energy projects are anticipated to generate 798 MW of electricity.
The nation has huge solar energy potential due to its geographical location near the equator, it was noted. “Ethiopia must accelerate its efforts to tap into diverse sources of energy that are produced efficiently, are carbon-free, and with lower emissions in order to meet its development needs,” the ministry stated.
Ethiopia has abundant renewable energy resources and potential to generate tens of thousands of mega watts of electric power from hydroelectric, wind, solar and geothermal sources.
Hence, it remains steadfast in its course to diversify its energy mix and utilize all energy sources to attain its economic development objectives, according to the ministry. .
Source: Ethiopian news Agency, ENA