Ethiopian Electric Power, a state-owned electric producer engaged in the development, investment, construction, operation, and management of power plants, power generation, and power transmission has announced plans for the implementation of a total of 71 power projects in Ethiopia over the next 10 years.
The revelation was made by the Ethiopian Electric CEO, Andualem Siae. According to Mr. Siae, the projects include 16 hydropower projects, 24 wind power projects, 17 steam-powered projects, and 14 solar power projects.
The projects in question are estimated to cost the East African country more than US$ 40bn. The cost according to the CEO 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.
Execution of the plan
Mr. Siae explained that as part of the plan, two solar power projects, developed by private developers and private and public partners, will be built by Aqua Power, a Saudi Arabia headquartered power plant developer focused on developing baseload Power Generation across emerging markets, which is already preparing to begin the works.
The CEO also said that negotiations have started with the United Arab Emirates (UAE) based AMEA Power that acquires, develops, owns, and operates thermal and renewable power projects in Africa, Middle East, and Asia, to build the Aisha 1 wind farm project. Bidding is underway to well sort out developers for other wind power projects in the country.
Noteworthy, the ongoing implementation of the Tulu Moye and Corbeti steam power projects are also a part of the plan.