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Ethiopia’s planned US$4 billion geothermal plant will be the largest in Africa and among the largest in the world
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Projected slow growth in the European renewable energy market throughout 2014 and into the first quarter of 2015, is expected to pave the way for African economies such as Ethiopia and Kenya to take increasingly leading roles. Ethiopia for instance, is building a US$4 billion and 1 Gigawatt geothermal energy plant which will be the largest in Africa and one of the largest globally. The plant is expected to be fully online by 2023.
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At the end of 2013, there was an estimated US$1 trillion investment opportunity in renewable energy across a number of emerging markets, including Africa. The renewable energy market in Africa is maturing quickly and welcoming investment such that in 2013, the Africa and the Middle East regions had invested up to US$9 billion in renewable energy technologies; this is more than both Latin America and Australia.
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