Masdar and Ethiopia sign agreement to develop 500MW of solar

Facebook
Twitter
LinkedIn
Reddit
Email
Ethiopia’s Finance Minister Ahmed Shide and Masdar CEO Mohamed Jameel Al Ramahi. Image: Masdar via Twitter.

Abu Dhabi-based renewables company Masdar is continuing its international expansion with new plans to develop 500MW of solar in Ethiopia through a partnership with the country’s government.

The company signed a memorandum of understanding that is said to include the development, construction, and operation and maintenance of PV plants in the African country.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The initiative represents a “significant step forward” for Ethiopia’s efforts to diversify its energy mix, Masdar CEO Mohamed Jameel Al Ramahi was quoted as saying by Emirates News Agency.

“Masdar has been a catalyst for renewable energy and clean-tech innovation in more than 30 countries around the world, and we look forward to working with the government of Ethiopia to help deliver universal access to electricity for all its people,” he added.

During a meeting with Masdar executives, Ethiopia’s Finance Minister Ahmed Shide stressed the importance of having adequate energy infrastructure to support the country’s development and growing population.

With the country looking to strengthen collaborations with the private sector, it currently has 17 approved public-private partnerships, eight of which are related to solar energy.

Masdar’s solar development efforts in Africa have seen the company complete 30MW of PV in Egypt, while it is also working alongside EDF and Green Africa to deploy a project in Morocco that will feature PV, concentrated solar power and energy storage.

Founded by the Abu Dhabi government in 2006, Masdar now has an operational or under-development generating capacity of more than 10GW, and is currently increasing its solar portfolio in markets such as Indonesia, Azerbaijan and Israel.

Read Next

July 22, 2024
Masdar has raised US$1 billion in green bond financing to support the development of new clean energy projects.
June 21, 2024
UAE state-owned renewable energy developer Masdar has reached an agreement to buy 67% stake in Greece's Terna Energy.
June 5, 2024
The development includes the 445MW Bilasuvar solar PV project, the 315MW Neftchala solar PV project, in addition to a 240MW wind project.
May 21, 2024
The World Bank and Masdar have announced a US$159 million financing package to support a 250MW solar-plus-storage project in Uzbekistan.
April 25, 2024
Azerbaijan has announced its first solar auction, for a 100MW project in the eastern municipality of Gobustan.
April 18, 2024
The Bank of China has supplied ACWA Power with a US$80 million equity bridge loan for the latter’s Tashkent solar-plus-storage portfolio.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA