Parliament Approves $293.3m Loan for Adama II Wind Farm

Parliament approved a loan for the construction of Adama II wind farm, amounting to over 293.3 million dollars last week. The loan comes from an agreement with the the Chinese Export & Import Bank (EXIM), which was signed six months ago.

The Ethiopian Electric Power Corporation (EEPCo) signed an agreement with Chinese GCOC Company and Hydro China Company for the construction of Adama II wind farm in December 2012. The project amounting to 340 million dollars has a capacity of 153 Mw, built up by 102 turbines with a nominal output of 1.5 Mw each.  The project will be operational within 18 months.

Hydro-China conducted the feasibility study and will also conduct the mechanical work. CGCOC the other Chinese firm selected for the project execution will do the civil engineering work.

Adama I is currently producing 51Mw from 34 towers each with a generating capacity of 1.5Mw. The total cost of the project was 117 million dollars of which 85pc covered by a loan secured from the Chinese EXIM Bank. The Ethiopian government financed the remaining 15pc.

Published on June 16, 2013 [ Vol 13 ,No 685]



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