Ethiopia's Regional Renewable Energy Integration Hailed By IRENA
Posted on : Thursday, 25th April 2024
Ethiopia's Regional Renewable Energy Integration was commended by the Director General of the International Renewable Energy Agency (IRENA).
The International Renewable Energy Agency (IRENA) Assembly convened its fourteenth session in Abu Dhabi, United Arab Emirates.
The assembly was attended by the Ethiopian delegation, which was led by Omar Hussien, the ambassador to the United Arab Emirates, and Habtamu Etefa, the minister of water and energy.
The Assembly's last day covered a number of issues, including bankable renewable energy projects, Africa's energy transition, the significance of geothermal energy and green hydrogen, and the skills and policies required to hasten the energy transition.
In addition, members kept getting together to advance cooperation and coordination in order to meet the 2030 triple renewables target.
"We have also now prepared private-public partnership models that will increase the confidence of the private sector on actions taken by Ethiopia to increase private sector investment to foster bankability to expand solar, wind, and geothermal projects," explained Minister of Water and Energy Habtamu during the IRENA closing session.
He cited Ethiopia's energy policy as an example of Prime Minister Abiy Ahmed's dedication to utilizing renewable energy sources. "We are close to achieving our target of 100 percent renewable energy by 2030 to propel our economy forward and achieve energy independence." Stated by the Minister of Water and Energy.
In closing the plenary session, IRENA director general Raul Alfaro Pelico, director of the Knowledge, Policy, and Finance Centre (KPFC) at IRENA, discussed the need for a new paradigm on bankability and project impact in order to reduce investment risk, boost PPPs, and quicken cooperative efforts to spark a global shift similar to what the Ethiopian government does.
Investing in additional energy transition-related technology may lead to a significant rise in employment prospects.
The African Renewable Power Alliance (APRA) and its plan to increase renewable energy in Africa through international cooperation are discussed by the participants at the session.
