ADDIS ABABA—Ethiopia has formalized an agreement with the United Arab Emirates-based AMEA Power to develop a 300 MW wind project, named Aysha-1, which represents the largest wind energy initiative in the Horn of Africa with a $620 million investment.
According to Ethiopian News Agency, the Minister of Finance, Ahmed Shide, and AMEA Power Chairman, Hussain Al Nowais, led the formalities. The event was marked by the signing of both the power purchase and project implementation agreements with significant attendance from senior officials of both Ethiopia and the UAE. The project, undertaken by AMEA Power’s subsidiary AMENA Power Aysha Wind One PLC, entails a 25-year Power Purchase Agreement with Ethiopian Electric Power.
Minister Shide highlighted the project’s alignment with Ethiopia’s national energy policy and its broader impact on sustainable development. He emphasized that the Aysha-1 project is pivotal not just for power generation but as a symbol of Ethiopia’s commitment to renewable energy and environmental sustainability.
AMEA Power’s Chairman Al Nowais commented on the project as a milestone for the company and reiterated their commitment to the local community and sustainable development practices. He emphasized that the Aysha project is a step forward in the energy transition crucial for future sustainability.
The project is expected to have a significant impact on Ethiopia’s energy sector and contribute to local and regional development through job creation and infrastructure improvement.