2merkato

An independent preliminary economic assessment of Allana Potash gave the assent an after-tax net present value of 1.85 billion US dollars and a 36.8% internal rate of return.

The PEA stated that a one million ton per annum mine at the Dankil project will cost 796 million US dollars to build.

The capital cost figure makes the projects the lowest cost and possibly the highest return potash project in the world according to Farhad Abasov CEO of Allana.

The Ethiopian Electric Power Corporation is to construct six wind power and one Geo Thermal Power Plant this fiscal year. The alternative power generating projects are expected to have the capacity to generate 1,015 Mega Watts.

The wind power projects are Adama II Wind Power Project (153 MW),  Assela Wind Power Project, (100MW),  Ayisha Wind Farm (300MW), Debre Berhan Wind Farm (100MW), Galema I Wind Power Project (250 MW) and the Mosebo Harena Wind Farm (42 MW).

The Aluto Langano Geo Thermal Project is expected to have the capacity to generate 70 MW.

Ethiopian Potash Corporation has announced that it has completed 16 diamond drill holes totaling 3,353 meters on its Danakil Potash Project. The initial 16 holes were drilled in the South-west Target Area.

Ethiopia Potash is currently drilling holes 17 and 18 to test the northern continuation of the South-west Target Area. All holes have intersected the Danakil Potash bearing sequence.

A Bill to ratify the establishment of the International Renewable Energy Agency was tabled before the Ethiopian House of People’s Representatives.

The bill has been sent to the Natural Resource and Environmental Protection Affairs Standing Committee for further review.

Ethiopia will benefit from becoming a member of IRENA said Wendimu Gezahegn, deputy government whip. Advantages of membership include technology transfer and capacity building according to Wendimu.