Ethiopia Needs $40b to Pursue 71 Power Projects in Decade

Aug 28 , 2021

An estimated 40 billion dollars is needed to finance the construction of 71 power projects over the next decade, according to the Ethiopian Electric Power (EEP). The figure is more than 10 times higher than the country's export proceeds from last year and is expected to be secured from development partners, while some of the projects will be funded through public-private partnerships. Of the planned projects, 24 of them are wind, while the rest are geothermal (17), hydroelectric (16) and solar projects (14). Ethiopia has been heavily investing in hydropower projects with 14 plants managed by the EEP, having a combined capacity of more than 4,000MW. Electricity has been also a source of foreign currency for the country. For this year, the country plans to export 138 million dollars worth of electricity.