The Ethiopian parliament has approved the loan agreement between the Danske Bank and the finance ministry of EUR117.3 million (US$136.5 million) that will be used for the development of the 100 MW Assela wind farm project.
The fund managed by the Investment Fund for Developing Countries of the Danish Government, Danida Business Fund (DBF), will provide 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 will be developed in about 150 kilometers south of Addis Ababa, near the town of Iteya in the Oromia. It will consist of 29 wind turbines manufactured by Siemens Gamesa.
The loan deal will be repaid in 20 years with a five-year grace period.
Country updates
-
-
August 26, 2020
Ethiopia launches first phase of PPP programs
The Ministry of Finance of the Government of Ethiopia is finalizing the preparations for the launching of the first phase of its public-private partnership (PPP) program. The approved proj...
Read more -
July 06, 2020
Danske Bank approves EUR117.3mn financing for the Assela wind power project
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 mil...
Read more -
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...
Read more -
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...
Read more -
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...
Read more
