Contingent and Globeleqe Consortium secured over 850 million USD for the construction of Genale Dawa VI hydropower project, first ever independently owned private hydropower investment in the country.
President Dr. Mulatu Teshome and Company representatives held talks on the investment process in Ethiopia yesterday.
Genale Dawa VI is one of the hydropower projects identified and studied at pre-feasibility level in the ongoing Genale-Dawa River Basin Integrated Resources Development Master Plan Study Project.
The powerhouse would be located in Filtu Woreda, Liben Zone of Ethiopia Somali State, whereas the dam would take shape in the Oromia State. Once completed in five years time, the plant would have an installed generation capacity of 250 MW, Consortium Strategic Director Alexander Stewart said.
He also added that the project would offer jobs for over 55, 000 employees.
“We had very productive meeting with the President and discussed the longstanding history of cooperation between Ethiopia and the UK. We are very keen on starting the project and have strong conviction that we get full support from the Ethiopian side. We had huge investment so far and we are ready to go forward,” he noted.
Stewart further said that the capital, which is a primarily prerequisite, for the investment had already been secured hence project is scheduled to start this year.
For his part, Cambridge Industries Company Managing Director Samuel Alemayew told journalists that the companies are reputable and experienced in managing independent power generation plants in Africa.
A three year impact assessment has been completed and the company is excited to secure the capital needed for the investment, he said, highlighting up to 27,000 hectares of land would be available for irrigation.
The generated power would be sold to government power utility and other interested private companies, added Samuel.
By Desta Gebrehiwot / The Ethiopian Herald