The Ethiopian Ministry of Finance and the United Arab Emirates renewable energy project operator AMEA Power signed an agreement to build the site with an investment of $600 million, which, according to the state ministry, represents an important milestone in the country’s sector.
The project is expected to produce approximately 1.22 terawatt hours of electricity per year, which will contribute significantly to Ethiopia’s power generation capacity.
It will also create approximately 2,000 jobs during the construction and operation phases for the benefit of the local economy, a joint statement revealed.
The document stated that the agreement demonstrates Addis Ababa’s unwavering commitment to renewable energy and dedication to attracting private investment in the energy sector.
Ethiopian Electric Power and the Ministry of Finance are working together to harness the region’s abundant wind resources and generate clean, sustainable electricity to meet the country’s growing demand for electricity.