AfDB Approves $110M Financing for Ethiopia's 300 MW Aysha Wind Project
The African Development Bank has sanctioned up to $110 million for the Aysha Wind Project in Ethiopia, the country's first wind-based Independent Power Producer. This initiative aims to diversify energy sources and support Ethiopia's goal of universal electrification by 2030.
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The African Development Bank Group (AfDB) has approved financing of up to $110 million for the Aysha Wind Project in Ethiopia, which will have a capacity of 300 MW and is expected to generate 1,189 GWh of clean electricity annually. Developed by AMEA Power, the total project cost is estimated at $508 million, with an additional $381.1 million being sought from international finance institutions.
This project is pivotal as it represents Ethiopia's first wind-based Independent Power Producer and will help reduce the country's 96% hydropower reliance. The initiative is aligned with the National Electrification Program aiming for universal access by 2030, as well as enhancing regional energy exports to Djibouti and Kenya. The Aysha Wind Project will create approximately 2,000 jobs during construction and operation phases.
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