The Ethiopian Investment Commission (EIC) has issued an investment licence to China’s Ming Yang Smart Energy Group, formalising a revised 14.17 billion dollar renewable energy project. The company, which initially signed a 10 billion dollar memorandum at the 4th “Invest in Ethiopia” Forum, increased its commitment by 4.1 billion dollar, expanding the multi-phase investment. The project will be implemented in two phases. The first phase allocates 7.47 billion dollar to develop 8.4GW of renewable energy capacity, including 5.4GW of wind and 2.8GW of solar power across South Omo, Afar, and Somali regional states. The second phase directs 7.3 billion dollar toward local manufacturing of green ammonia, transmission equipment, and wind turbine components. EIC officials said the licensing reflects efforts to accelerate the conversion of investment pledges into operational projects through regulatory reforms and a streamlined digital licensing system.
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