africa Economy Ethiopia Trade

UK Energy companies aim to invest in Ethiopia

Around 17 UK energy organizations will visit Ethiopia in the coming days, with the purpose of analyzing investment opportunities in the African nation, according to an official statement released on Saturday.

Likewise, institutions are going to appreciate the options to establish cooperation strategies with their local counterparts, to produce more energy more efficiently throughout the Ethiopian territory, according to a statement from the UK Embassy in Addis Ababa.

The energy demand increases every year at a rate of 30 percent in the country known as, Horn of Africa. To meet such demand, the government boosts direct foreign investment and renewable resources exploitation.

Currently, according to national report, Ethiopia generates 4200 megawatts, and has the purpose of increasing its capacity to 37,000 in 2037 and become the cornerstone in the energy market of the region.

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