Addis Ababa, April 21, 2024 (Addis Walta) The International Renewable Energy Agency (IRENA) Director General, Raul Alfaro Pelico, stated that Ethiopia’s renewable Energy transformation could catalyze regional integration.
Speaking at the IRENA 14th Assembly, he underlined the need for a new paradigm on bankability and project impact to de-risk investment, increase public-private partnerships, and accelerate collaborative efforts to catalyze a global shift as the Ethiopian government has been embarked on.
The Director General further noted the energy sector can serve as a big source of employment indicating the renewable energy jobs potentially could tripling from the current 13.7 million to 40 million by 2050.
Habtamu Itefa (Ph.D.), Minister of Water and Energy of Ethiopia, on closing session remarks pointed out that Ethiopia has been taking various measures to facilitate renewable energy transformation.
He said, “We have now prepared private-public partnership models that will increase the confidence of the private sector.”
He further highlights Ethiopia’s energy strategy, which exemplifies the commitment of Ethiopian Prime Minister Abiy Ahmed to harnessing renewable energy sources. “We are close to achieving our target of 100% renewable energy by 2030 to propel our economy forward and achieve energy independence,” Mr. Habtamu added.
The Minister also underlined that Ethiopian government is committed to harness regional integration through renewable energy with neighboring countries like Kenya, Djibouti, and others, according to Ministry of Water and Energy.