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Ethiopia to encourage investments in clean energy

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Foreign Minister Dr. Tedros Adhanom meeting with Mr. Christian Wright, Head of Business Development, East Africa, at Globeleq, reiterated that Ethiopia stood committed to support clean energy investment with a view to champion a climate-friendly trajectory as well as to promote regional and global partnership for a low-carbon and green development business model.

The Foreign Minister applauding the keen interest shown by Globeleq to invest in renewable energy development in Ethiopia pointed out that the company's focus on renewable energy sector conforms to Ethiopia's vision of building a climate resilient green economy departing from the traditional high-carbon development model. Ethiopia's green growth architecture envisaging the need to accelerate national, regional and global efforts to drive the transition to clean energy has mirrored practical results in exporting electricity to neighboring countries, including Sudan, Djibouti and Kenya aiming at carrying forward the regional economic integration agenda in the region.

Dr Tedros Adhanom affirmed that the Government is ready to welcome clean-energy technology firms to invest in Ethiopia with a view to power the country's industrial parks as well as to unleash the existing potential for the greater benefit of all. The Foreign Minister who indicated the surging energy demand in the region underlined the benefits of clean energy investment to accelerate the transition towards a low carbon economy. Dr Tedros stressed the need to link energy projects with Ethiopia's industrial parks to make the economy competitive.

Mr. Christian Wright on his part emphasized that his company was committed to partner with Ethiopia in the area of power industry, adding that Globeleq was willing to invest in Ethiopia in the sphere of alternative energy sources, including solar, wind, hydro and geothermal power. The Head of Business Development further noted that his company's involvement in clean energy development is supportive of Ethiopia's Growth and Transformation Plan.

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