Australian company to invest in Ethiopia’s power sector

Australian InvestorsFortescue Metals Group Ltd, an Australian company, has shown its interest in investing in Ethiopia’s power sector.

Representatives of the company on Thursday, September 17, 2020, held discussion with Dr Seleshi Bekele, Ethiopia’s Minister of Water, Irrigation and Energy.

The company expressed its interest to generate a total of 25 gigawatts of power (15GW from hydropower and 10GW from geothermal) at a cost of $10 billion.

Speaking at the meeting, Dr Seleshi said “this is a big opportunity for Ethiopia.”

The government of Ethiopia has recently introduced a reform to improve electricity access in the country, which currently stands at 45%.

The nation has a plan to increases access by developing clean and renewable energy, financing the sector, involving the private sector and building strong institutions, he said.

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