The Government of Ethiopia has secured a EUR117.3 million (US$131.90 million) of loan financing for the development of the Assela wind farm project.
The wind farm that requires about EUR146 million (US$164.18 million) of investment will inject 100 MW of energy capacity to the Ethiopian electric grid.
The fund managed by the Investment Fund for Developing Countries of the Danish Government, Danida Business Fund (DBF), will provide the remaining EUR28.7 million (US$32.27 million) financing in the form of a grant for the development of the project. The project is also supported by the African Development Bank (AfDB).
The project is currently developed by the state-owned Ethiopian Electric Power (EEP). It has signed an engineering, procurement, and construction (EPC) contract with the Siemens Gamesa Renewable Energy. The project will consist of 29 turbines each with an individual generating capacities of 3.45 MW.
Siemens Gamesa Renewable Energy owns 60% in the project while the Simens Gamesa-Spain (the parent company) will own 40% stakes.
Country updates
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May 12, 2020
Climate Investment Funds lends US$10m to 50 MW Phase I of Tulu Moye geothermal project
Multilateral energy fund Climate Investment Funds, through its Clean Technology Fund (CTF), has signed and approved a US$10 million concessional senior loan financing for the 50 MW first phase of the...
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April 08, 2020
150 MW Corbetti geothermal plant in Oromia region secures government PPA
Corbetti Geothermal and its sponsors – InfraCo Africa (a PIDG company), Berkeley Energy who manage the Africa Renewable Energy Fund, Iceland Drilling and Reykjavik Geothermal – have signed...
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December 31, 2019
ACWA Power, Ethiopian Electric Power sign PPAs for 250 solar projects
ACWA Power,a leading international developer and operator of power generation and water desalination projects signed two long-term power purchase agreements (PPA) with Ethiopia’s state-owne...
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September 20, 2019
Contract award for 250 MW solar PPP contract in Ethiopia
Saudi Arabia’s energy firm ACWA Power has been awarded USD 300 million worth solar contract to develop two photovoltaic plants with a combined capacity of 250 MW after its bid was approved by th...
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May 13, 2019
Ethiopia adds two more projects for Off Scaling Solar Round 2 tender
The Public-Private Partnerships Directorate General (PPP-DG) within the Ministry of Finance of the Government of Ethiopia has expanded the initially launched Request for Pre-Qualification (RFQ) f...
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