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Ethiopian minister shed light on efforts to attract international investors in the future development of the power sector
Dr. Seleshi Bekele, Ethiopian Minister for Water, Irrigation and Electricity set the stage for the panel discussion on Ethiopia at this year’s Africa Energy Forum. The session took place on 7 June, 10:45am-12:00pm, at Auditorium 10 at the Bella Center Copenhagen.
Ethiopia is one of Africa’s fastest growing economies and has a clear ambition to maintain its economic growth and support the development of the country. In addition, Ethiopia is one of the most progressive developing countries in global climate negotiations, contributing with an ambitious input to the Paris Agreement and taking an active role in the Global Green Growth Forum (3GF).
The high ambitions are clearly reflected in the five-year plan for the power sector, where the Government of Ethiopia is planning to increase the national power generation capacity from renewable energy sources significantly by 2020. High priority will continue to be given to hydropower, which is the backbone of the country’s energy sector. In addition, significant amounts of wind, geothermal, solar and bio-mas will be developed in order to strengthen the climate resilience of the Ethiopian economy. Meanwhile, the Government of Ethiopia is implementing an ambitious program to bring access to sustainable energy to all citizens in line with the Sustainable Development Goals.
Dr. Seleshi highlights: “Our expansion in new renewable energy generating capacity and energy access is open up to be developed through the private sector and public-private partnerships. Now, I want to shed light on Ethiopia’s effort to attract international investors, as there will be a need to mobilise substantial amounts of capital. Ethiopia is a country that is recording a strong and sustained economic growth, a stable political environment, and conducive business setting for private investment. In other words, Ethiopia’s power sector development is a huge market opportunity”.
The session at the Africa Energy Forum will feature dedicated panelist speakers from leading energy companies such as Generel Electric and Voith Hydro as well as financial investors. It will also highlight Ethiopia’s strong, trust-based cooperation with international partners, including Power Africa, State Grid Corporation of China and the Danish Energy Agency.