UAE-based renewable energy company AMEA Power announced on Monday the signing of a Power Purchase Agreement (PPA) and Implementation Agreement (IA) with Ethiopian Electric Power for the development and operation of a 300-megawatt (MW) wind energy project in Aysha in Ethiopia's Somali Region State. 

The duration of the PPA, financial close and construction timelines weren't disclosed but an AMEA Power press statement said the $620 million Aysha-1 Wind Project will be the largest wind farm in the Horn of Africa when commissioned.

The IA was signed with the Ministry of Finance and the Land Lease Agreement was signed with the Somali Region State Government, the statement added.

This project was officially launched during COP28 in Dubai in December 2023, where a Letter of Award (LOA) was signed between the Ministry of Finance,  Ethiopian Electric Power and AMEA Power.

The statement said the project is expected to generate 1,400 GWh of clean energy annually, powering more than four million households and reducing carbon emissions by more than 690,000 tonnes per year. Furthermore, during the construction and operation phases, the project is expected to create more than 1,500 direct jobs.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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