Oromia's Steam Power Poised to Propel Progress

Sep 18 , 2023


Over half of the drilled steam power generating wells are deemed complete by the Ethiopian Electric Power (EEP) at Aluto Langano Geothermal Power Station in Arsi Zone, Oromia Regional State. The project carried out with a 143.5 million dollar financial package from the World Bank where 24.5 million dollars was a grant. An agreement with World Bank has been reached for the drilling and testing of four other sites until next year. The wells are drilled to depths between 2,500m to 3,000m each and are expected to generate a total of 70MW energy when the two phases are complete. After completing the testing procedures, officials revealed the completion of six wells that can generate up to 25MW energy. Mesay Fekadu, director of the Department of Geothermal Sector Development Project at EEP, said the remaining four will be functional in the coming four months. Ethiopia has renewable energy resources with the potential to generate over 60,000 MW of electric power from hydroelectric, wind, solar and geothermal sources. With only around half of Ethiopia's population having access to electricity, development institutions and private energy companies have insisted on the development of renewable energy sources to meet the nation's demand.


Radar

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Radar

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Radar

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


Back
WhatsApp
Telegram
Email