Ethiopia will receive $50 million of investments from the Climate Investment Funds (CIF) for the Scaling Up Renewable Energy Program for Low Income Countries (SREP). The African Development Bank (AfDB) will provide technical and financial support amounting to $23 million of the CIF portion to help implement the 100-MW Assela wind farm project and the second phase of the Aluto Langano geothermal project.
"The plan will help unlock Ethiopia’s renewable energy potential and share some of the risks. Funds will be applied to technology transfer to reduce the cost of wind energy and to initial drilling and exploration activities of geothermal," stated Gosaye Mengistie Abayneh, Director of Energy Study and Development in the Ethiopian Ministry of Energy.
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