now loading...
Wealth Asia Connect Middle East Treasury & Capital Markets Europe ESG Forum TechTalk
Asia Connect
Chinese built hydro dam project inaugurated in Ethiopia
Hydropower is at the centre of ten-year plan to increase energy generation capacity fourfold as the country strives to become a light manufacturing hub in Africa
Michael Marray 12 Feb 2020

THE Chinese built 254MW Genale Dawa III hydro dam project in Ethiopia is beginning operations.

The hydro dam was built by China Gezhouba Group Corporation, with a total project cost of around US$451 million. Debt was provided by China Export-Import Bank.

The project was inaugurated on February 4 by Ethiopian Prime Minister Abiy Ahmed, accompanied by minister of Water, Irrigation and Electricity, Seleshi Bekele.

Genale Dawa III is located in southeastern Ethiopia, 630 kilometres southeast of the capital Addis Ababa.

Moges Mekonen, Communication Director at Ethiopia Electric Power (EEP), told Xinhua that the project will fill a critical gap in Ethiopia's ongoing efforts to meet its growing energy needs, as it strives to become a light manufacturing hub in Africa.

The government recently unveiled a ten-year roadmap to increase energy generation capacity fourfold.

Hydropower is at the centre of the plan. Ethiopia has the potential to generate 40,000-50,000MW of energy from hydropower, while current installed capacity stands at only 4,400MW.

Under the roadmap, another 14,000MW of hydropower will be added. The plan also calls for 1,700MW from solar, 900MW from geothermal and about 2,000MW from wind energy.

Ethiopia also aims to increase its power transmission line system to 34,000 kilometres from 20,000 kilometres at present.

Conversation
Bashar Al Natoor
Bashar Al Natoor
global head of Islamic finance
Fitch Ratings
- JOINED THE EVENT -
6th Global Islamic Finance Issuers and Investors Leadership Dialogue
Marking time as new opportunities emerge
View Highlights
Conversation
Yi-Chen Chiang
Yi-Chen Chiang
senior sustainable investment analyst
Manulife Investment Management
- JOINED THE EVENT -
6th ESG Summit
Beyond the hype
View Highlights