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Masdar and Ethiopia Sign Deal for Sustainability Project | |
| Sumita Pawar |
According to the report, the UAE and Ethiopia have agreed to develop solar power projects as part of a collaborative effort to boost renewable energy in the region.
The agreement was signed between Masdar and the Ethiopian government to develop solar power projects with a total capacity of 500 megawatts as a first phase, with the aim of developing up to 2000 megawatts of similar projects within the Eastern African nation.
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Earlier, UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan met the Ethiopian prime minister, Abiy Ahmed.
The two discussed ways of advancing bilateral relations for the benefit of the two countries and their peoples, as stated in the report.
The agreement was exchanged by Dr. Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Ahmed Shide, Minister of Finance in Ethiopia.
The move could potentially allow Ethiopia to significantly expand its energy capacity and diversify its energy mix as part of the country’s industrialization drive.
According to the report, currently, Ethiopia has a total installed power generating capacity of about 4,898 MW, with 91% of it coming from hydroelectric power, based on data from state-run Ethiopian Electric Power.
The details of the plant’s location and cost have not been disclosed.
As the report further highlighted, Ethiopia wants to expand its energy capacity, and in 2021, it began generating power from its giant Grand Ethiopian Renaissance Dam (GERD), a multi-billion-dollar hydropower plant on the River Nile, albeit with opposition from neighbouring Sudan and Egypt.
When it reaches full capacity, the dam will have a generating capacity of more than 6,000 MW.
Ethopia’s leadership is keen on meeting the global net-zero emission targets as a way to harness the country’s renewable resources to ensure access to abundant, clean, and affordable energy.
Masdar has been spearheading renewable energy in Africa and many other regions.
It recently signed an agreement with Zambia's state-owned power utility, Zesco, to develop solar projects worth $2 billion.