Prime Minister Hailemariam Desalegn has officially launched Gibe III hydropower project of the Ethiopian Electric Power.
“Attaining development plans without electricity will be difficult for the country,” the Prime Minister told stakeholders at the launch.
It was built by Salini Impregilo, an Italian company that was also behind the construction of the Grand Renaissance Dam. The construction took nine years to complete and consumed over 35 Billion Birr.
Over 60pc of the project is financed by China Exim Bank while the rest is covered by the Ethiopian government.
The dam has already began generating 900MW of energy.
By the end of 2020, Ethiopia plans to increase its energy generation capacity to 15,000mw and expand the country’s electricity coverage from its current 55pc to 99pc.
Only five per cent of the country’s electric power has been exploited so far, according to studies done on Ethiopia’s potential of energy power.
Source - Fortune