Africa Power Initiative, a renewable energy company, launched the first biodiesel processing and manufacturing plant yesterday in Adama Industrial Park, Oromia Regional State.
The plant has a production capacity of 70 million litres of biodiesel annually. The company envisions opening nine additional factories by 2025, with a maximum total production of 730 million litres of biodiesel.
"The road to this day was very challenging," said Markos Bitew, CEO of the company. "I have sacrificed more than 10 years of my life to open the factory."
The company plans to be economically influential in the horn of Africa by generating billion of dollars in foreign currency.