Ethiopia approves Danish loan for 100-MW Assela wind project

 


The Ethiopian parliament last week approved the loan agreement between the finance ministry and Danish lender Danske Bank A/S (CPH:DANSKE) aimed at financing the 100-MW Assela wind farm project.

The loan of EUR 117.3 million (USD 136.5m), to be repaid in 20 years, including a five-year grace, was approved unanimously by the House of Peoples’ Representatives, the parliament said on its website.

The Danske Bank loan is supported by the Danish government through the ministry of foreign affairs’ development assistance Danida.

With funds in hand, the Assela project is now moving towards the construction phase. The wind farm will be located some 150 kilometres (93.2 miles) south of Addis Ababa, near the town of Iteya in the Oromia regional state. Wind turbine maker Siemens Gamesa Renewable Energy SA (BME:SGRE) will be responsible for the build.

Once connected, the 29-turbine wind farm will generate some 330,000 kWh per year and supply electricity to over three million people, said the Danish embassy in Addis Ababa.

“I am pleased to see the agreement to develop the Assela I Wind Farm, which will diversify the Ethiopian renewable energy mix, has been passed by the Parliament. I am grateful to the Danish government’s generosity to provide grant and concessional finance,” Seleshi Bekele, the Ethiopian minister of water, irrigation and energy, said in a statement provided by the Danish embassy.

According to the embassy, around 60 million people, which is over half of Ethiopia’s population, have no access to electricity.

Source: Renewables Now

Comments

Post a Comment

Popular posts from this blog

Suspension of US aid to Ethiopia is yet another example of Trump’s disregard for Africa

Image
America’s Department of State recently suspended   $130 million worth of aid to Ethiopia because of “a lack of progress” on negotiations pertaining to the construction of the Grand Ethiopian Renaissance Dam on the River Nile. According to state department officials, the decision to cut aid came as a result of a direct “ guidance ” from President Donald Trump. Estimates  show that almost half of Ethiopia’s budget is linked to foreign aid. The country depends on  economic assistance  to support its infrastructure projects, health care and education expansion efforts, and security sector reforms. By suspending some aid, the United States has reopened the debate on whether developing countries should depend on foreign aid to realise their economic goals. The decision to suspend aid to Ethiopia comes after  almost 10 years of regional and international efforts  to mediate the dam dispute between Egypt and Ethiopia. Almost  60% of Ethiopians  do not have access to electricity. The renaissanc
Read more

UAE and Ethiopia discuss more avenues to enhance cooperation

Image
  Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), received at the Fund’s headquarters Suleiman Dedefo, Ambassador of Ethiopia to the UAE. Senior officials from both sides were present at the meeting. The two sides discussed bilateral relations and means of developing them, especially through the Fund’s support to the Ethiopian government to achieve sustainable development goals by financing development and investment projects. Al Suwaidi emphasised the Fund’s commitment to supporting Ethiopia in its developmental efforts, noting that the visit presented an opportunity to discuss issues of common interest. The meeting was part of the continuous coordination, particularly over the Fund’s support to the Ethiopian government to achieve its economic objectives. Dedefo expressed appreciation for the UAE, as well as ADFD, for supporting his country in its effort to achieve sustainable developmental goals and economic priorities. He pointed out that the
Read more

The 9 Most Beautiful Towns and Cities in Africa

Image
The African continent is not only about impressive animals, stunning deserts and beautiful savannahs. It is also home to astonishing cities and towns that are rich in history and culture. Here are our top picks. Cape Town, South Africa Cape Town is a vibrant and colorful city with stunning beaches, beautiful mountains and some of the best vineyards in Africa. Taking the cable car ride to  the top of Table Mountain  at sunrise or sunset to take in the beautiful views is a must. With all the sophistication and activities that can be found in the city, this seaside playground certainly has enough to offer to everyone. Essaouira, Morocco With an ancient medina and lustrous fortifications that date back to the 18th century, miles of stunning beaches, and a charming harbour and fish market to stroll around,  Essaouira is one the most beautiful towns to visit  on the continent. It guarantees moments of peace and tranquility far away from the mayhem of bigger cities and the charmless all
Read more