Ethiopia received 50 million US dollars from the Climate Investment Fund after the country’s investment plan under the Scaling Up Renewable Energy Program for Low Income Countries was approved by the committee members for the CIF.
The decision was rendered at the CIF committee meetings that took place in Washington DC from the 30th April to the 4th of May. The African Development Bank, as the implementing agency of the Climate Investment Fund, represented African interests at the week-long meetings.
The plan presented by Ethiopia calls for the African Bank to offer investment and technical support to execute Phase II of the Aluto Langano Geo-thermal Project and Assela Wind Farm Project. The AFDB is expected to inject 23 million US dollars of the total SREP financing to the Ethiopian projects.
It is expected that the plan will help utilize the potential for renewable energy that Ethiopia said Gosaye Mengistie Abayneh, Director of Energy Study and Development with the Ministry of Energy in Ethiopia.The funds will go towards technology transfer and to decrease the cost of wind energy as well as initiating geo-thermal drilling and exploration activities.
Source: WaltaInfo
