Ethiopia recognizes importance of continuing on a path that leverages renewable energy: State Minister

On Mar 28, 2023 263

Addis Ababa, March 28, 2023 (FBC) – Ethiopia recognizes the importance of continuing on a low-carbon path, that leverages the immense potential in clean and renewable energy, said Sultan Woli, State Minister for the Energy Development of Ethiopia.

While sharing Ethiopia’s experiences in energy sector during the ‘High-Level Dialogue on Private Sector Investment in Electricity and Infrastructure Development in Africa’, he noted that his country has invested in developing geothermal, wind, solar and other areas of sustainable energy to deliver on its goals.

“As we aspire to restructure and develop effective national energy markets, public-private partnership is an essential requirement”, the State Minister emphasized.

“We, as investors, are looking for clear and stable and regulatory frameworks. Everything else follows these features, and it also defines the possibility of attracting energy private investments”, said Salvatore Bernabei, President of RES4Africa Foundation, during his remarks at the opening of the dialogue.

The private sector has a vital role to play in the continent’s infrastructure, and it calls for forward-looking and conducive regulatory frameworks, according to Roberto Vigotti, Secretary General of RES4Africa Foundation.

Antonio Pedro, Acting Executive Secretary of ECA, for his part said that investments in energy and infrastructure will help leverage the opportunities for economic diversification through intra-African trade and regional economic integration, and provide opportunities for the growing African youth.

For his part, Ambassador Alberto Bertoni, Permanent Representative of Italy to the African Union and ECA, stated that electricity infrastructure plays a key role in development. “Africa’s energy goals require investments. The private sector has to be a driving force behind renewable energy projects.”

The high-level dialogue on private sector investment in electricity and infrastructure development in Africa has kicked off in Addis Ababa earlier today.