AfDB Approves USD 110 Million for Ethiopia’s Aysha Wind Power Project
The African Development Bank has approved $110 million in financing for the 300-megawatt Aysha Wind Project in Ethiopia. The project aims to diversify Ethiopia's energy grid, which is currently heavily dependent on hydropower.
Why it matters
This investment is a significant step toward renewable energy infrastructure development and economic diversification in East Africa.
The African Development Bank (AfDB) Group has approved a financing package of up to USD 110 million for the development of the 300-megawatt Aysha Wind Project in Ethiopia.
The project represents a total investment of approximately USD 508 million.
The AfDB's financing package comprises up to USD 80 million from its ordinary resources, USD 20 million from the Clean Technology Fund, and USD 10 million from the Sustainable Energy Fund for Africa. The bank said its participation is also expected to help mobilize an additional USD 381.1 million in debt financing from other development finance institutions.
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