Kenya eyes hydropower investments in Ethiopia

Kenya says it wants to invest in new hydroelectric plants in neighboring Ethiopia to cover a domestic shortfall in power supplies, Kenya Electricity Generating Co. told Bloomberg.

Eddy Njoroge, chief executive officer of KenGen, told the financial news service that a meeting with Ethiopian officials will be held next week at Ethiopia’s capital, Addis Ababa.

“We want to be equity holders,” Njoroge said. “Ethiopia has good hydropower potential and it’s very cheap.”

Last week, the government of Ethiopia said it plans to build 10 hydroelectric projects over the next decade at a cost of US$10 billion. (HydroWorld 11/19/09) Ethiopia recently completed the 300-MW Tekeze hydroelectric project, the largest public works project in Ethiopia’s history. (HydroWorld 11/16/09)

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