Ethiopia’s Aysha Wind Farm Nears Financial Close With AfDB Support
The African Development Bank has approved $110 million in financing for Ethiopia's 300-MW Aysha wind farm project. The initiative aims to diversify the country's energy mix and reduce its heavy reliance on hydropower.
Why it matters
This project represents a significant step in infrastructure development and renewable energy adoption in East Africa, supported by international financial institutions.
email facebook linkedin twitter Whatsapp The AfDB approved $110 million for Ethiopia’s 300-MW Aysha wind farm The bank plans to mobilize another $381.1 million for the project Aysha will help reduce Ethiopia’s heavy reliance on hydropower Ethiopia’s first wind farm developed by an independent power producer has reached a new milestone with support from the African Development Bank (AfDB). On July 15, the bank’s board approved up to $110 million in financing for the 300-MW Aysha wind farm, moving the project closer to financial close.
Financing Structured to Attract Other Lenders
The financing package includes an $80 million loan from the AfDB, $20 million from the Clean Technology Fund and $10 million from the Sustainable Energy Fund for Africa. The bank also plans to mobilize $381.1 million from other lenders and investors. The project is expected to cost $508 million.
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