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Ethiopia is planning to build two hydro-electric dams on the southern Omo River, bordering Kenya, border with a total generation of over 2 GW, spokesman for the Ethiopian Water Ministry, Bizuneh Tolcha, has said.
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"Gilgel Gibe IV and V hydro-electric dams will be part of Ethiopia's next big projects during the next five-year national plan," Tolcha stated to local media.
"Some 1450 MW of the total electric power will be produced by Gilgel Gibe IV while Gilgel Gibe V will generate the remaining [sic]," he continued.
Ethiopia has already begun selling bonds in the capital market to generate funds for mega-projects like the two new Gilgel dams, but the total project costs are currently unclear with Tolcha advising that figures will only be announced "when the assessment is completed".
Reports indicate that BNP Paribas, Deutsche Bank and JP Morgan have been selected to manage the bond sales.
Ethiopia completed the first, 184 MW, Gilgel Gibe I hydro-electric dam on the Omo River in 2004, and construction on the Gilgel Gibe II, which started in 2010, is now 80 per cent complete.
The Ethiopian government has seen significant resistance from Kenyan activists lobbying against the construction of Gilgel Gibe dams on the grounds that they significantly impact the livelihoods of communities around Lake Turkana, a claim the Ethiopian government denies.
Ethiopia’s water courses have the potential to provide more than 45 GW hydropower generation capacity if all were exploited, and Tolcha revealed that “there are other hydro-electric projects being considered" by government.
Ethiopian authorities commenced construction of the Geba dam in western Ethiopia in September 2014 at a cost of $583 million.
Ethiopia is planning to build a number of new hydro-electric projects including a controversial dam on the Nile's upper reaches, straining relations with Egypt.
The Egyptian government fears the dam will reduce its traditional share of the Nile River, its main source of water, while Ethiopia insists the new dam will benefit downstream states like Egypt and Sudan through the opportunity to purchase the generated electricity.