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| Africa's biggest hydropower dam under construction on the Nile. |
China yesterday extended a $1 billion loan to Ethiopia
for building of transmission lines linking its capital Addis Ababa with
Africa's biggest hydropower dam under construction on the Nile.
The country looks to emerge as one of the world's leading
power exporters and has investment plans of $12 billion to harness energy from
the rivers running off its rugged highlands. It has plans for generation of
over 40,000 MW of hydropower over the next two decades.
The centrepiece of the projects in the Horn of Africa
country is the $4.1 billion Grand Renaissance Dam in the western
Benishangul-Gumuz region, which is designed to generate 6,000 MW upon
completion.
China has made heavy investments in African
infrastructure and its companies often take up work on the building projects it
finances.
The 619-km (385-mile) link from the 6,000-MW Grand
Ethiopian Renaissance Dam on the Blue Nile River would be constructed over the
next three years by China Electric Power Equipment and Technology, according to
deputy prime minister of economy and finance Debretsion Gebremichael who spoke
to reporters in Addis Ababa yesterday.
''The construction of this big transmission line will
help benefit our economy and ensure our industrial development,'' Debretsion
said. Funding for the two 500-kilovolt
cables would come primarily from the Export-Import Bank of China, he added.
According to the World Bank, Ethiopia, had the
second-highest hydropower potential in Africa after the Democratic Republic of
Congo, and hoped to complete the self-funded $5-billion Nile dam, which would
be the continent's biggest power plant, in 2018.
Source: http://www.hydroworld.com
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