Israeli Company to Invest $500 Million in Ethiopia
January 7, 2018 - An Israeli company, GIGAWATT GLOBAL, announced plans to invest 500 million USD in Ethiopia's renewable energy and human resource development. Josef I. Abramowitz, CEO of the company announced the plan following discussions with the Ethiopian Prime Minister Hailemariam Desalegn alongside with the Israeli companies.
The company which is interested to invest in solar and wind power has planned to work with 10 Ethiopian universities.According to him, the project has targeted training hundreds of thousands of engineers in addition to improving power supply.
The company has already concluded agreement with three universities – Debretabor, Jigjiga and Mekele – for the training of the engineers and consultation is going on with the other universities to reach similar stages, the CEO added.
Raphael Morav, Ambassador of Israel to Ethiopia noted that the companies came to Ethiopia as “they believe very much in the opportunities that are here and they came here for a long term investment.”