AMEA Power, a renewable energy firm, announced today that it has signed a Power Purchase Agreement (PPA) and Implementation Agreement (IA) with Ethiopian Electric Power.
These agreements will facilitate the development and operation of a 300MW wind energy project in Ethiopia. The move represents a crucial advancement in AMEA Power’s dedication to promoting renewable energy and sustainability across Africa.
The $620m project, situated in Aysha, Somali Region State, is set to generate 1,400GWh of clean energy annually. This output is expected to power over four million households and cut carbon emissions by more than 690,000 tonnes per year.
Additionally, the project is anticipated to create more than 1,500 direct jobs during its construction and operation phases. This initiative aligns with Ethiopia’s ambitious renewable energy goals and will play a vital role in supporting the nation’s economic growth and development.
This project was officially launched at COP28 in Dubai, where a Letter of Award (LOA) was signed between the Ministry of Finance, Ethiopian Electric Power, and AMEA Power. The signing followed AMEA Power’s qualification under Ethiopia’s Public Private Partnership laws.
During the ceremony, the Power Purchase Agreement (PPA) was signed with Ethiopian Electric Power, the Implementation Agreement (IA) was signed with Ethiopia’s Ministry of Finance, and the Land Lease Agreement was signed with the Somali Region State Government.
AMEA Power chairman Hussain Al Nowais said: “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.
“This endeavour 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.”
