Australia's Fortescue Metals Group Ltd. announced it has an interest in investing $10 billion to generate 25 gigawatts of power - 15 gigawatts of hydropower, and 10 gigawatts of geothermal energy.
Sileshi Bekele (Ph.D.), Ethiopia's Minister of Water, Irrigation and Energy, remarked it is a "big opportunity for Ethiopia" and "hugely significant", after discussing with Fortescue Metals Group's representatives.
In order to improve the existing 45 percent access to electricity in Ethiopia, the government is undertaking reforms and efforts are underway to increase access to electricity through developing renewable energy, supporting the sector through finance, and engaging the private sector as well as building strong institutions, Dr. Sileshi pointed out.
Dr. Sileshi said the interest of the Australian company is of great relevance in light of Ethiopia's aspirations to ensure universal access to electricity by 2030, as well as double the 350 MW it exports to neighbor countries in a few years.
Source: ENA
