ADDIS ABABA – Ethiopian Electric Power has disclosed plans to build 71 power projects over the next 10 years. This will cost at least U.S.$40 billion and will consist of 16 hydropower, 24 wind, 17 steam, and 14 solar power projects.
Andualem Siae, CEO of Ethiopian Electric Power has said that the project cost is expected to be covered by private and public partnerships, the African Development Bank, the World Bank, other development partners and financiers, Ethiopian Electric Power, and the Ethiopian government.
In July 2021, the African Development Bank (AfDB) approved two grants worth U.S.$83.6 million which enable Djibouti and Ethiopia to proceed with the construction of a second power transmission line which will eventually boost their energy trade, after enjoying the returns from the first project that linked their power grids.
Among the projects planned to be built in the next 10 years are 16 water, 24 wind, 17 steam and 14 solar power projects, CEO said.
Based on the directive, two solar power projects will be built by Saudi Arabia’s Aqua Power Company, which is in the process of being developed by private developers and private and public partners and the company is preparing to begin construction.
As to Andualem, negotiations have also started with the United Arab Emirates Company Amia to build the Aisha 1 wind farm project, and bidding is underway to well sort out developers for other wind power projects.
According to the CEO, construction of the Tulu Moye and Corbeti steam power projects has also been commenced by private developers.