The African Development Bank is set to invest 22.6 million US dollars to enhance the renewable energy programs in low income countries including those that are active in Ethiopia. The investment plan was endorsed by the SREP’s sub-committee at a meeting held in Nairobi in March.
The investment plan, approved in principle, calls for technical support and guidance from the African Bank to prepare and implement the Assela wind farm project and Phase II of the Aluto Langano geothermal project.
Grants for project preparation of 1.7 million and 900 thousand US dollars were approved for both projects.
Ethiopia will seek full endorsement for the investment plan by this month.The SREP is a program of the Climate Investment Funds of which the AFDB is an implementer.
The SREP pilot countries meeting at which Ethiopia, Mali, Liberia, Kenya and Tanzania joined with other countries from across the world to share experience an enhance understanding on how to implement the SREP towards national renewable energy development goals, preceded the sub-committee meeting.
Source: Capital
