By Ethiopia Agrees With Dubai To Develop $620M Wind Farm
A Dubai-based renewable developer AMEA Power is ploughing ahead with its ambition in a mass investment plan across Africa, signing an agreement with Ethiopia’s state-owned electricity company to develop and operate a 300-MEGAWATTS onshore wind project.
Aysha-1 project as it is being referred to, located in the eastern Somali region of the country, is expected to cost 620 Million Dollars to construct and generate up to 1400 GW/Hr of clean energy annually once operational.
This agreement further reflects the growing ambitions of Emirate companies and the UAE government in Africa.
The Ethiopian wind project, which was officially launched during last year’s UN climate summit hosted in Dubai, is part of the United Arab Emirate’s pledge to invest $4.5Bn to help accelerate clean energy projects across Africa.
The chairman of privately-owned AMEA Power, Hussain Al Nowais, tells fDi that the Ethiopian project will be “run commercially” and utilize cheaper concessional finance to offer a lower tariff cost of electricity.
“We fulfill the direction of the [UAE] government and at the same time support the African need for power,” he adds.
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