Ethiopia
Enel’s green power unit leads a consortium selected as preferred bidder to build a 100 megawatt solar farm in Ethiopia, the Italian utility said on Monday, in its first foray in the country.
Enel, the biggest private renewable energy player in Africa, said the consortium would invest around $120 million in the project. The consortium includes Ethiopian infrastructure company Orchid Business Group, it said.
“Ethiopia has all the potential to become a key market for Enel’s strategy in Africa,” Enel Green Power boss Antonio Cammisecra said.
Ethiopia, Africa’s most populous state after Nigeria, has an annual economic growth rate of around 10 percent but still has one of the lowest electrification rates on the continent.
Enel, which controls Spain’s Endesa, is keen to expand in Africa where it already operates in Zambia, Morocco, Kenya, Senegal and South Africa.
REUTERS
01:02
Pics of the day: April 25, 2024
00:49
London Marathon: Women's-only world record, Kenyan double victory
00:59
Donors pledge $630 million for conflict-hit Ethiopia
Go to video
Hellen Obiri claims back-to-back Boston Marathon titles, leading Kenyan women's podium sweep
01:04
Kenya proposes treaty to ease Somalia-Ethiopia tensions
01:29
After a murder acquittal, US citizen is on trial for slandering innocent man