Addis Ababa, August 17, 2024 (FBC) – Ethiopia has signed 300MW Aysha-1 wind project Power Purchase and implementation agreements with United Arab Emirates (UAE)’s AMEA Power.
The Aysha wind energy project is poised to become the largest wind energy project in the Horn of Africa alter investing 600 million US dollars, ENA reported.
Minister of Finance Amhed Shide and other senior government officials from Ethiopia and UAE attended the signing ceremony.
The project implementation agreement was signed by Minister of Finance Ahmed Shide and Hussain Al Nowais, Chairman of AMEA Power.
Similarly, Chairman of AMEA Power signed the power purchase agreement with CEO of Ethiopian Electric Power Ashebir Balcha, it was indicated.
AMEA Power, a United Arab Emirates’ renewable company is anticipated to develop, invest, build, own and operate the wind farm through its fully-subsidiary, AMENA Power Aysha Wind One PLC.
The energy generated will be sold to Ethiopian Electric Power under a 25-year Power Purchase Agreement.
Speaking at the signing ceremony, Minister of Finance Ahmed Shide said the Aysha-1 300M wind power project is a cornerstone of our national energy policy and the legacy to be set in the renewable energy growth.
“This clearly shows our ongoing commitment to green energy and also to energy diversification. This project is not just about generating power; it is about energizing our future through sustainable green development,” he elaborated.
Moreover, Ahmed added that this project aligns with international best practice and meets the governmental and environmental standards.
Chairman of AMEA Power, Hussain Al Nowais said the 300MW Aysha-1 Wind Project marks a significant milestone for AMEA Power.
“As we have embarked on the next phase, we remain committed to working closely with the local community,” he added. Noting energy transition is the way forward, he said, adding that the Aysha project is a step in that direction. He reiterated we look forward to continuing our collaboration with our partners and stakeholders.
AMEA Power is one of the fastest growing renewable energy companies in the region with a clean energy pipeline of over 6000 MW across 20 countries.