Masdar Clean Energy, one of the global leaders in renewable energy sources, has signed a Memorandum of Understanding (MoU) with the Ethiopian government for the development of solar power projects in Ethiopia. The agreement covers everything from design, development, financing, maintenance, and all other related aspects.
The agreement was finalised by Ethiopia’s Minister of Finance, Ahmed Shide, and CEO of Masdar, Mohamed Jameel Al Ramahi and presided over by Prime Minister Abiy Ahmed and the UAE’s Ambassador to Ethiopia, Mohamed Salem Al Rashdi.
The solar power projects that are going to be implemented are expected to generate more than 500MW annually. This addition is expected to alleviate the country’s electricity issues; half of Ethiopia’s population still lacks direct access to electricity.
While Ethiopia aims to achieve universal energy access by 2025, there still remains a ways to go given the economic and infrastructure related issues the country continues to face.
Masdar is going to play a crucial role for the realisation of this goal considering the fact that Ethiopia aims to achieve it through the use of predominantly renewable energy sources. The UAE-based company has been integral to the development of renewable energy in more than 30 countries to date.