Boasting an abundance of renewable resources, East Africa has garnered substantial attention from major international players within its clean energy market. Robust policies and declining costs of technology in the sector, coupled with regional market and infrastructure reforms, are poised to accelerate the deployment of clean energy projects. The Africa Renewable Energy Fund, a private equity fund focused on the development of clean energy projects across sub-Saharan Africa, has invested in multiple renewable projects in the country, including a 10 MW solar plant in Singida. Meanwhile, Tanzania is also driving energy development in the form of natural gas. Notably, the East African country is spearheading a dual development strategy, awaiting first oil production from the Lake Albert Development set to begin in 2025.

Source: News Business Ethiopia December 16, 2023 12:27 UTC