Ethiopia signs $4bn deal to build 1 000 MW-geothermal power plants
20th December 2017
By: Megan van Wyngaardt
Creamer Media Contributing Editor Online
“No doubt the success of this effort will have a significant impact in the country’s future economic well-being,” said State-run Ethiopian Electric Power (EEP) CEO State-run Ethiopian Electric Power (EEP)Azeb Asnake.
In an economy traditionally dominated by state spending, the government has suggested that the nascent sector could be a model for increased private investment.
“Going forward, the government recognises the added value to be gained by working in partnership with the private sector, specifically in sharing with it the burden of investment for large-scale power generation,” said Water, Irrigation and Electricity Minister Seleshi Bekele.
It has an array of projects under construction, including the $4.1-billion Grand Renaissance Dam along its share of the Nile river that will churn out 6 000 MW at full capacity upon completion within the next ten years.
But the country’s power ambitions have also caused disputes. Egypt – solely dependent on the Nile – is concerned that the Renaissance Dam will reduce the river’s flow. Both countries are currently at odds over the project‘s technical details.