Amid budgetary support, the World Bank Group (WBG) has approved a commitment of USD 1.2 billion to Ethiopia this week, the International Finance Corporation (IFC) – the private sector arm of the WB – said that it is working on a solar power program that will help generate 500 megawatt of electricity in the country.
With Ethiopia moving to a strategy which helps embrace the wisdom of solar energy within the country and play catch-up to successes achieved in neighboring nations such as Kenya and Rwanda; HelloSolar in partnership with BelCash – the mobile banking platform system – is set to introduce a pay-as-you-go system for the nation’s off-grid population with affordable solar home system.
Lighting Africa–part of World Bank’s efforts to developing a commercial off-grid lighting market in the continent–held its second Lighting Africa/Ethiopia off-grid gathering at Intercontinental Hotel, in the capital, on Thursday.
Samuel Tafesse of Sunshine Construction and one of Ethiopia’s most successful businesspersons is set to build a solar park in Ethiopia. This follows the announcement made last year by Enel, an Italy-based corporation, of its intention to build a USD 120-million 100 megawatt solar park in collaboration Orchid Business Group.
Enel Green Power, a leading European renewable energy developer, and its local partner in Ethiopia, Orchid Business Group, have won the bid put up by Ethiopian Electric Power to build a 100MW solar power plant in Metehara town, Oromia Regional State.
Ethiopia’s experimentation with developmental state model has been under the spotlight for more than a decade now. Over the years, debates have moved from delivering the needed development outcomes to that of sustainability; especially in terms of financing.