Indian power companies courted to ‘light up’ AfricaMarch 20th, 2008 - 10:16 pm ICT by admin
New Delhi, March 20 (IANS) With the African economy on a rising curve, Indian companies have been invited to plug the shortfall in power generation and distribution in the continent. At the fourth India-Africa business conclave here Thursday, African countries were eager to showcase the potential for electricity generation, especially in the hydropower sector, and attract Indian capital and technology.
Talking about Africa’s underdeveloped electricity sector, the general manager of the Ethiopian Electric Power Corporation, Meheret Debebe, pointed out that while Africa had one-sixth of the world’s population, it only had a share of four percent in global electricity production.
Hydropower is the biggest source of electricity as the region has some of the largest rivers in the world. While the potential was huge, there were also challenges due to the volatile market and geo-political situation, he said.
He urged the Indian power companies to invest in Africa, and said it would be a win-win situation for both.
Similarly, Congo’s Minister of Energy Salomon Mboso encouraged Indian companies to tap his country’s hydropower sector, which he said had the potential of providing 13 percent of the world’s hydropower requirements.