Mingyang Pledges $10B into Ethiopia’s Green Energy

During the 4th Invest in Ethiopia Forum 2026, Mingyang Smart Energy Group signed a Memorandum of Understanding with the Ethiopian Investment Commission (IEC) to pledge an investment of USD 10 billion into Ethiopia to develop clean energy and an industrial park.

Minyang is a Chinese firm specialized in green energy headquartered in the city of Zhongshan in Guangdong province in southern China. It has emerged as the world’s largest manufacturer of wind turbines, with a global market share of 31%. It is listed on both the Shanghai Stock Exchange and the London Stock Exchange.

The first phase consists of the construction of 5.4-GW wind power and 2.8-GW of solar power. The first phase will require a Foreign Direct Investment (FDI) of USD 5 billion.

In the second phase, Minyang plans to transition from green power generation to local manufacturing and chemical processing. In particular, the focus will shift to the production green hydrogen (GH2) and ammonia. This phase will require an investment estimated at USD 5 billion.

In 2025, Minyang’s plan to build a wind turbine in Scotland was blocked by the UK Government over ‘national security concerns.’ Therefore, the Chinese pivoted its strategy to target the Global South.

Historically, Ethiopia’s electricity comes mostly from hydropower, which is subject to rainfall and drought. Therefore, a diversification of the energy mix into wind and solar is welcome to add more resilience to the grid, while still favoring renewable sources.