May 28/2022/ENA/ “10 Green Gigawatt for Ethiopia” Initiative announced an investment plan to start an engineering company funded by Israeli investors to generate solar energy in Ethiopia.
Ethiopian Embassy in Tel Aviv and Israeli businessmen discuss new investment plan on solar energy generation in Ethiopia.
The representatives of “10 Green Gigawatt for Ethiopia” initiative presented their investment plan, according to Ministry of Foreign Affairs.
During the occasion, Ethiopian Ambassador to Israel, Reta Alemu Nega explained the legal framework on foreign investments in Ethiopia.
He also stressed that Ethiopia has abundant renewable energy resources, which should be explored to accelerate Ethiopia’s prosperity.
“Ethiopia is known as a nation with thirteen months of sunshine; hence solar power production will help the country to enhance its economic and social development goals”, ambassador Reta noted.
CEO of “10 Gigawatt initiative”, Mikael Alemu presented a briefing on the projects developed by the group.
He elaborated on the business plan for “10G Premium Solar” engineering company, which will mainly focus on agriculture, health, tourism and manufacturing sectors, and implementing projects ranging from 50 Kwh to 5 Mwh energy.
The company is planning to develop local Ethiopian manufacturing and assembly of solar components, establish local workshop, and strengthen local professional capacity in areas of solar energy.
Both parties have concluded that the successful development of “10 Green Gigawatt for Ethiopia” initiative is essential for the development in this sector.