Ethiopian Renaissance Dam Can Be Seen as Symbol of Energy Sovereignty: Ethiopian Electric Power

The dam will help reduce the risk of power price increases and supply shortages, particularly during periods of political tension and conflict, Moges Mekonnen, the organization’s communications director, told Sputnik Africa, pointing to the current energy challenges linked to tensions in the Middle East.

The dam will also reduce Ethiopia’s dependence on oil and ease pressure on foreign exchange reserves, he emphasized.

Western countries often promote systems that create market dependence, Mekonnen argued. According to him, these systems pressure developing nations to purchase energy—directly or indirectly—from Western countries or their allies. In this context, he described the Renaissance Dam as a turning point that could break this cycle of dependence.

Western-aligned institutions such as the International Monetary Fund and the World Bank are not willing to let Africa build huge projects, Mekonnen stated. These institutions impose political and economic conditions that influence how countries develop and utilize their natural resources, often limiting their autonomy, he noted.

In contrast, he highlighted Ethiopia’s approach as an example of self-reliance. The country mobilized its internal resources and population to construct the Grand Ethiopian Renaissance Dam, demonstrating what he described as true energy sovereignty.

Countries that are dependent on foreign powers inevitably become the beneficiaries of foreign powers whenever geopolitical crises and tensions arise, Mekonnen concluded.