British energy firms visit Ethiopia to explore opportunities
Around 17 British energy companies will be visiting Ethiopia from 14th – 19th July as part of the Energy Catalyst Mission.
The key objectives of the mission are to help companies applying for Energy Catalyst Round 7 to obtain an understanding of the energy access issues in Ethiopia and gain links to potential partners.
Our Business Diplomacy department took part in the pre-mission briefing held at the London Chamber of Commerce and Industry (LCCI), where Ms Nardos Ayalew, Head of the department, presented investment opportunities and Ethiopia’s potential in the energy sector, which, given its large clean energy reserves, can become a cornerstone of the regional power market and the Eastern Africa Power Pool.
The companies will meet Ethiopian counterparts in the energy sector to understand the opportunities for UK-Ethiopia collaboration, as well as government officials.
Power demand in Ethiopia is forecast to grow by 30% per annum. To meet demands the government is encouraging foreign direct investment and private companies to develop the energy sector and has developed a range of incentives.
Ethiopia currently generates 4,200MW power with a target to increase generation capacity, with an overall potential of 37,000 MW by 2037.
The Energy Catalyst programme was set up in 2013 to support UK-based businesses to develop highly innovative, market-focused energy technologies. The programme will enable them to commercialise sustainable energy solutions faster than they normally would.
In 2019, the Energy Catalyst programme was awarded £36.6 million from the Global Challenges Research Fund (GCRF) for two rounds of the Energy Catalyst programme. This means the sole focus of the programme now centres around technologies that meet both the energy trilemma (energy security, energy equity, and environmental sustainability), and the energy access needs of Sub-Saharan Africa and South Asia.
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