(ENA)-The Finance Minister Ahmed Shide again asserted the government’s unchanging policy in favor of green energy during Aysha Wind Power Project signing to develop the Horn of Africa’s largest 300MW onshore wind power project. Today, the Memorandum of Understanding is made with UAE’s AMEA Power through the Ministry of Finance.
Construction cost
The Aysha project is expected to be the largest wind energy project in the Horn of Africa and it will cost USD 620 million. It was also learnt that through its full-subsidiary AMEA Power Aysha Wind One PLC, the power purchase and implementation agreement with the renewable energy company is to develop, invest, build, own and operate the wind farm. The energy that will be produced will be offered to Ethiopian Electric Power Corporation under the PPA of 25 years. During the signing ceremony, the minister of finance, Ahmed Shide noted that the project is one of the frameworks of Ethiopian energy sector and this is a legacy in the renewable energy campaign. It further confirms our dedication to renewable energy and to also expanding energy mix For us, this project is not only about delivering power ; it’s about powering our future through sustainable green initiatives.
Horn of Africa’s Largest Onshore Wind Project will also promote community development, increase industrial production and bring about technological improvement. In his view the location of Ayisha that the government is planning in the future to invest in logistics and other industrial capacity, it will be the right opportunity. Today’s world is witnessing a shift towards sustainable and renewable energy, and the project has proven that Ethiopia is a pioneer among African countries in this regard, the minister emphasized.
Scope
Furthermore, it is the finance minister’s view that the country is experiencing an unprecedented economic revolution based on a general and systematic initiative in all fields. He pointed out that one of the key economic reform has to achieve the desired objective set by the government of effective engagement of the potential and repeatable private sector participation in the economic growth of the country. According to Ahmed, the recent investment framework reform in public–private partnership has opened the prospects to increase and diversify trade relations, cooperation and partnership with the Government of the United Arab Emirates.
AMEA Power Chairman, Hussain Al Nowais said on his part that the signing ceremony of Aysha power purchase and the implementation agreements is a historic milestone and testament to the exceptional partnership between Ethiopia and UAE. “Currently, we have recently started commissioning two of the largest projects in the continent of Africa, a 500 MW wind and a 500 MW solar,” he said, “We are quite keen and excited to reach that day and commission Aysha in a speedy and good way. ”uring his speech, the chairman was optimistic that energy transition is the solution, and the Aysha wind project is an example.
In addition to addressing environmental problems, the project defines sustainable development in the country and will directly employ more than 1500 people during construction and operation, it was revealed. AMEA Power stated this expressing its privilege to be part of the change as Ethiopia by Al Nowais, adding that the strategic positioning of Ethiopia and its focus on clean power generation will continue to drive investment.
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