Australia-based Lotus Energy Corporation, Victoria, has entered into an alliance with Ethiopian endowment fund EFFORT Group for the development of a Private Energy Network (PEN).
The network will ensure that EFFORT’s numerous business divisions have access to clean, renewable electricity on a 24-7 basis, 365 days a year.
EFFORT (Endowment Fund for the Rehabilitation of Tigray), established in 1995, consists of 66 companies, in sectors including constructions, textiles, agriculture, mining, transportation and pharmaceuticals.
Lotus Energy CEO, Mr. Anthony Vippond, stated “The provision of clean reliable energy will mean the people of Ethiopia will have access to improved standards of living. The increase supply of energy will translate to substantially more jobs for locals, which is one of our key objectives. A reliable power supply supports the manufacturing sectors, this ahain encourages further local investment and a bright future for the people of Ethiopia”.