The Aysha wind energy project is set to become the largest wind energy project in the Horn of Africa after an investment of US$620 million.
Minister of Finance Amhed Shide and other senior government officials from Ethiopia and the United Arab Emirates attended the signing ceremony.
The project implementation agreement was signed by Finance Minister Ahmed Shide and Hussain Al Nowais, Chairman of AMEA Power.
Likewise, it was indicated that the president of AMEA Power signed the power purchase agreement with the CEO of Ethiopian Electric Power, Ashebir Balcha.
AMEA Power, a UAE renewable energy company, is expected to develop, invest in, construct, own and operate the wind farm through its wholly owned subsidiary, AMENA Power Aysha Wind One PLC.
The power generated will be sold to Ethiopian Electric Power under a 25-year power purchase agreement.
Speaking at the signing ceremony, Finance Minister Ahmed Shide said that the 300 MW Aysha-1 wind power project is a cornerstone of our national energy policy and the legacy that must be left in the growth of renewable energies.
“This clearly shows our continued commitment to green energy and also to energy diversification. This project is not just about generating energy; it is about energizing our future through sustainable green development,” he explained.
Furthermore, Ahmed added that this project aligns with international best practices and complies with environmental and development standards.
AMEA Power Chairman Hussain Al Nowais said the 300 MW Aysha-1 wind project marks an important milestone for AMEA Power.
“As we embark on the next phase, we remain committed to working closely with the local community,” he added.
He noted that the energy transition is the way forward, he said, adding that the Aysha project is a step in that direction.
He reiterated that we look forward to continuing our collaboration with our partners and stakeholders.
AMEA Power is one of the fastest growing renewable energy companies in the region with a clean energy portfolio of over 6,000 MW across 20 countries.
