Dubai based renewable energy investor and developer, AMEA Power, has concluded a Power Purchase Agreement (PPA) and an Implementation Agreement (IA) for the development and operation of a 300 MW wind energy project in Ethiopia.
AMEA Power signed the PPA with Ethiopian Electric Power, and the IA was signed with the Ministry of Finance of Ethiopia, and the Land Lease Agreement was signed with the Somali Region State Government. The conclusion of these agreements mark a significant milestone towards the implementation of the project.
The 300 MW wind energy project is expected to be constructed for an estimated investment of US$620 million. The project will be located in Aysha, Somali Region State, and will generate about 1,400 GWh of clean energy annually, powering more than 4 million households.
Additionally, the project will help diversify Ethiopia’s energy mix and help offset 690,000 tons of carbon dioxide emissions per year.
“The 300MW Aysha-1 Wind Project marks a significant milestone for AMEA Power as we sign the Power Purchase Agreement and Implementation Agreement in Ethiopia. This endeavor will be the largest wind farm in the Horn of Africa, setting a new benchmark for project-financed renewable energy in the country,” said Hussain Al Nowais, Chairman of AMEA Power.
“This is more than just an energy project; it is a step towards a greener future for Ethiopia. We look forward to continuing our collaboration with our partners and stakeholders,” added Al Nowais.
According to AMEA Power, the wind project was officially launched during COP28 in Dubai, where a Letter of Award (LOA) was signed between the Ministry of Finance, Ethiopian Electric Power and AMEA Power. This followed AMEA Power’s qualification under the Public Private Partnership laws of Ethiopia.
The Emirati renewable energy company says it will work closely with the local communities as part of its commitment to socio-economic development, and will undertake key social initiatives under its ‘Community Investment and Development Programs’, specifically addressing the core areas of education, water access among others.
