Ethiopian construction mogul, Samuel Tafesse, to invest in solar park
Samuel Tafesse, the founder of Sunshine Construction, has announced plans to build a solar park in Ethiopia. “At the moment, we are exploring opportunities in power generation,” the 60-year old entrepreneur told Forbes Africa. “I wouldn’t want to give away too much but we have currently teamed up with Globeleq – one of Africa’s leading power companies to establish a 100 MW IPP solar park in Ethiopia," said Samuel.
Ethiopia has begun to embrace solar energy as an option to address its surging energy needs and also as a means to cut soaring energy costs as it aspires to move towards a manufacturing economy.
Emerging nations such as India have promoted the use of solar energy in place of coal. The use of solar energy has gained popularity because of its economical and environmental benefits. India, for instance, has a target to invest upwards of USD 100 billion by the year 2022 in solar energy.
As of last year, total global solar energy generation stood at only 303 GW, and this figure is expected to rise as new innovations continue to be rolled out.
Globeleq is a self-described “leading private power generation company in Africa”, involved in mega energy projects in a number of nations. It most recently completed two mega renewable energy projects in South Africa, including the 50 MW PV De Aar Solar Power and the 50 MW PV Drogfontein Solar Power projects.
“Infrastructure projects like these boost local economies through delivery of clean and reliable electricity, creation of jobs and the development of skills that will increasingly be in demand as the industry grows,” Globeleq CEO Mikael Karlsson said.