Ethiopia assures Turkish investors of energy stability through hydroelectric ventures

Ethiopia, apart from strengthening its energy capabilities, is citing its strategic location in the African continent as one factor in attracting investments.

Ethiopia is seeking Turkish investments with assurances of energy stability through renewables. Ethiopian Trade and Industry Minister Girma Birru explained the said business opportunities to Turkish investors recently in a forum at the Turkish capital’s industrial zone at Istanbul, The Ethiopian News Agency reported yesterday (June 9).

Various hydroelectric power plants are already being constructed to meet the country’s growing energy demand, Girma said in response to investor queries on how Ethiopia is addressing energy shortages.

“We are about to finalize the 120-megawatt in northern Ethiopia and the 420 megawatt hydroelectric power generation in south-west Ethiopia in few weeks time,” Girma said.

“Before 2010, the country will launch 320, 420 and 460 megawatt hydroelectric power generation projects in various areas,” Girma added.

Ethiopia is also reportedly constructing another hydroelectric power plant of 1,870 megawatt capacity. In more or less two months, with the various hydroelectric projects that the government has undertaken, power will no longer be a problem in Ethiopia, Girma said.

Among other investment factors that Girma stressed to the Turkish investors were Ethiopia’s proximity to Turkey and strategic “gateway” location in the African continent.

“Any business well established in Ethiopia can easily reach to markets in Europe, the Middle East and the rest of African countries,” Girma pointed out.

Accompanying Girma in the event were Dr. Mulatu Teshome (Ethiopian Ambassador to Turkey), Getachew Ayenew (President of the Ethiopian Chamber of Commerce and Sectoral Association), and members of the Ethiopian business community from the Ethiopian capital of Addis Ababa.


-  Jen Balboa

Source:

¹ http://www.ena.gov.et/EnglishNews/2009/Jun/09Jun09/89424.htm