Conference Fast-tracking Energy Investment in Ethiopia, Tanzania Underway

A two-day conference under the theme “Fast-tracking renewable energy investment in Ethiopia and Tanzania” is underway in Addis Ababa.

Addressing the conference, Water and Energy Minister Habtamu Itefa said even if Africa has huge potential for energy generation the resources have been untapped due to various reasons, mainly finance limitation and technological capacity.

Hydropower, solar, wind and geothermal are the leading renewable energy potentials in the continent, he added.

In the coming years, we will not only work for our citizens but also create accessibility for neighboring countries.

According to him, Ethiopia will provide electric energy to South Sudan and Somalia in the near future as Sudan, Djibouti and Kenya are already receiving electricity from the country.

Habtamu further noted that “there is huge potential of renewable energy and we will like to connect to our Ethio-Kenya power line so that we can have inter-connection in the entire region, starting from Ethiopia to South Africa through Tanzania.”

Tanzania Geothermal Development Company General Manager, Matthew Mwangomba said sharing expertise and experiences is critically important in order to ensure the enormous energy potential in Ethiopia and Tanzania.

“It is open secret that Tanzania and Ethiopia have enormous potential in renewable energies. We are optimistic that this conference will have a positive contribution in our energy portfolios not only by attracting finance for the geothermal energy for our countries but also sharing experience, in expertise management, development of these energy resources.”

In Tanzania, he said, the long-term development agenda recognizes energy as a strategic sector for achieving growth for the social wellbeing of the population.

The conference is also aimed at engaging international financiers and technology providers on renewable energy investment opportunities in the two countries, it was learned.

The conference is hosted by African Energy Now, in collaboration with Ministry of Water and Energy.

African Energy Now is a grant-funded program designed to connect African governments with investors and realize renewable energy projects across the continent.

Source: Ethiopian News Agency