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AMEA Power, a rapidly expanding renewable energy company, has announced the signing of a Power Purchase Agreement (PPA) and Implementation Agreement (IA) with Ethiopian Electric Power for the development of a 300MW wind energy project in Ethiopia. This landmark agreement underscores AMEA Power’s commitment to advancing renewable energy and sustainability across Africa.
The signing ceremony, held on Saturday, August 17, 2024, was attended by key dignitaries, including H.E. Ato Ahmed Shide, Minister of Finance of Ethiopia; H.E. Sheikh Shakhboot Bin Nahyan Al Nahyan, Minister of State for Foreign Affairs of the UAE; H.E. Mohamed Salem Al-Rashedi, UAE Ambassador to Ethiopia; Mr. Ato Ashebir Balcha, CEO of Ethiopian Electric Power; Mr. Ato Abebe Gebrehiwot, Head of PPP DG, Ministry of Finance; and Mr. Hussain Al Nowais, Chairman of AMEA Power.
The $620 million wind project, located in Aysha, Somali Region State, is projected to generate 1,400 GWh of clean energy annually, enough to power over 4 million households. It will also contribute to reducing carbon emissions by more than 690,000 tons per year. During its construction and operation, the project is expected to create over 1,500 direct jobs, supporting Ethiopia’s renewable energy goals and economic development.
Hussain Al Nowais, Chairman of AMEA Power, highlighted the significance of the project, stating, “The 300MW Aysha-1 Wind Project is a pivotal achievement for AMEA Power as we finalize the Power Purchase Agreement and Implementation Agreement in Ethiopia. This project will become the largest wind farm in the Horn of Africa, setting a new standard for project-financed renewable energy in the country. This initiative is more than just an energy project; it is a step toward a greener future for Ethiopia. We are eager to continue our collaboration with our partners and stakeholders.”
The project was 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. This followed AMEA Power’s qualification under Ethiopia’s Public-Private Partnership laws.
At the signing ceremony, the PPA was signed with Ethiopian Electric Power, the IA with the Ministry of Finance of Ethiopia, and a Land Lease Agreement with the Somali Region State Government. AMEA Power also reaffirmed its commitment to socio-economic development by pledging to work closely with local communities and undertake key social initiatives through its ‘Community Investment and Development Programs,’ focusing on education, water access, and other critical areas.
