AMEA Power has signed a Power Purchase Agreement (PPA) and Implementation Agreement (IA) with Ethiopian Electric Power for the development and operation of a 300MW wind energy project in Ethiopia.
The USD 620 million project is located in Aysha, Somali Region State, and is expected to generate 1,400 GWh of clean energy annually.
“The 300MW Aysha-1 Wind Project marks a significant milestone for AMEA Power as we sign the Power Purchase Agreement and Implementation Agreement in Ethiopia,” commented Hussain Al Nowais, Chairman of AMEA Power.
“This endeavor will be the largest wind farm in the Horn of Africa, setting a new benchmark for project-financed renewable energy in the country. This is more than just an energy project; it is a step towards a greener future for Ethiopia. We look forward to continuing our collaboration with our partners and stakeholder,” added Al Nowais.
This project officially launched during COP28 in Dubai, where a Letter of Award (LOA) was signed between the Ministry of Finance, Ethiopian Electric Power and AMEA Power, followed AMEA Power’s qualification under the Public Private Partnership laws of Ethiopia.
During the signing ceremony, the PPA was signed with Ethiopian Electric Power, while the IA was signed with the Ministry of Finance of Ethiopia, and the Land Lease Agreement was signed with the Somali Region State Government.
According to AMEA Power, it will “work closely” with the local communities and undertake social initiatives under its ‘Community Investment and Development Programs’, specifically addressing the core areas of education and water access, among others.
The project is set to power more than four million households. Further, during the construction and operation phases, it is expected to create more than 1,500 direct jobs, AMEA Power shared.