Gilgel Gibe III hydropower project was officially inaugurated by Prime Minster Hailemariam Dessalegn on Saturday, December 17, 2016.

Speaking on the event, the Premier said, “Attaining development plans without electricity will be difficult for the country”.

The construction of the project was undertaken by the renowned Italian company, Salini Impregio. The construction took 9 years and consumed more than 35 billion Birr.

60 percent of the project’s cost was covered by a loan obtained from Export Import Bank of China (EXIM Bank of China). The rest 40 percent was covered by the Ethiopian government.

Gibe III, according to Fortune, has already started generating 900 megawatt energy.

Salinin is also constructing Grand Renaissance Dam of Ethiopia.

Ethiopia aims to increase its energy operation capacity to 15,000 megawatt by the end of 2020. By then the country’s electricity coverage is expand to reach 99 percent from 55 percent.

Source: Fortune