UAE-based and Africa-focused renewable energy developer Amea Power has signed an agreement to develop a 300MW wind farm in Ethiopia, which will require an investment of $600m, according to the country's finance ministry.
The Aysha wind farm will be located on 18,000 acres of land and create 2,000 jobs during the construction and operational phases.
Renewable energy projects such as the Aysha wind farm are expected to boost electricity coverage in the country, which sits at 50 per cent leaving some 60 million people outside the grid.
"The Aysha wind power project will be implemented with strong government-to-government support by Amea Power, a prominent private sector player," said Ethiopia's Finance Minister, Ahmed Shide.
Amea Power closed and received funding from Japanese investment holding company SoftBank Group Corporation (SBG) for a $75m equity funding round, MEED reported in November.
It marked the company’s first equity funding following years of being privately funded by Abu Dhabi’s AlNowais Investments.
The transaction is expected to allow Amea Power and SBG to explore a mutual partnership, mainly in the Asian, Middle East and Africa (Amea) regions.
Founded in 2016, Amea Power has a generating capacity in operation and under construction of approximately 1.45GW.
The company said it has a clean energy pipeline of nearly 6GW across 15 countries.
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