Ethiopia's Ministry of Finance and the AMEA POWER company, based in the United Arab Emirates, signed an agreement on Monday for the construction of the 300 MW onshore wind project, the finance ministry said.
According to the ministry, the sprawling 18,000-hectare Aysha wind energy project will be the largest wind energy project in the Horn of Africa and is expected to produce about 1.22 TWh of electricity annually and to create about 2,000 jobs.
"AMEA POWER's extensive experience in developing large-scale renewable energy projects makes it a great partner for this venture," the ministry highlighted.
The ministry added that the deal demonstrates the country's "unwavering commitment to renewable energy and dedication to attracting private investment in the energy sector." The body also noted the collaboration of the Ethiopian Electric Power (EEP) and the finance ministry to harness the region's abundant wind resources and generate clean power to meet Ethiopia's growing demand for electricity.
Ethiopia's Minister of Finance, Ahmed Shide emphasized that the project "will be implemented with strong government-to-government support by AMEA Power, a prominent private sector player."
"This project represents a major stride in our journey towards increasing clean energy production, providing sustainable electricity to our people, and driving economic growth and job creation in the region," Abebe Gebrchiwot from the Ethiopian Public Private Partnerships Directorate said.
On Friday, during the 28th COP28 Conference, which took place in the UAE city of Dubai, Abiy Ahmed highlighted his country's potential for clean energy production, given its vast hydropower, solar, wind and geothermal sources.
In the wake of heated discussions on climate change and the challenges it poses in Africa, Prof. Guy Midgley, Acting Director at School for Climate Studies told Sputnik Africa that African countries should start positioning themselves as strong partners in the international climate debate.