Liberalizing power sector for private investment said crucial to meet national demands

Addis Ababa, August 28(ENA)-- The government's efforts to open up the power sector for private investment would enable to meet the country's power requirements, which is indispensable to bring about swift economic development, General Manger of the Ethiopian Electric Power Corporation (EEPCo) said.

Mihret Debebe said EEPCo has been carrying out various activities aimed at facilitating conditions for the launching of the operation of three private companies, with which it signed memorandums of understanding to develop hydro and thermal power resources of the country.

Mihret was speaking here on Wednesday at a half-day awareness-raising workshop on the participation of the private sector in power generation and transmission activities.

The companies were currently engaged in finalizing their studies, fulfilling investment requirements as well as negotiating power selling prices with the corporation, he said.

The General Manager said the government has enacted an energy policy and subsequently launched power sector reform program with a view to addressing the main problems of the sector and encouraging sustainable development.

The involvement of private companies in the power generation and transmission activities would enbale EEPCo to provide adequate, reliable and quality power supply service, he said.

EEPCo signed 600 million USD memorandums of understanding with one local and two foreign companies to carry out four power development projects with a total capacity of 617 Mega Watt.

EEPCo is the sole establishment in the country engaged in the power distribution business.

(END)