The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank has approved close to one million USD grant to support the roll out of a sustainable procurement framework for Independent Power Producers (IPPs) in Ethiopia.
SEFA has approved 995,000 USD grant that will encourage private investments into hydro power projects through Ethiopia’s Renewable Energy Program.
The Bank’s acting Vice President for Power, Energy, Climate Change and Green Growth, Wale Shonibare said “well-structured procurement framework is crucial in mobilizing the investments necessary to achieve universal energy access in Africa.”
The SEFA program will boost private IPPs participation, and spur investments into the Ethiopian hydro power sector, he added.
As Ethiopia has a vast but untapped renewable energy potential, the government has outlined a National Electrification Program (NEP), targeting universal access by 2025 through a 65% on-grid, and 35% off grid combination. The goal is to transform the country into a regional energy hub by 2030.
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