High Level Lenders Holding Discussions to Advance Financing for Aysha Wind Power Project 

Addis Ababa, January 13, 2026 (ENA)—A high-level lenders due diligence discussions are underway in Ethiopia to advance the financing of 300 MW Aysha 1 Wind Power Public-Private Partnership project, according to Ministry of Finance.

The landmark independent wind power project and Ethiopia’s first utility-scale renewable energy Independent Power Producer (IPP) to be developed under a Public-Private Partnership (PPP) framework is a flagship USD 620 million renewable energy development being implemented by the leading renewable energy developer AMEA Power.

The project is structured as a PPP between the Government of Ethiopia, Ethiopian Electric Power (EEP), and AMEA Power.

 

 

Following the execution of the Power Purchase Agreement, Implementation Agreement and Land Lease Agreement on August 17, 2024, the African Development Bank and the International Finance Corporation have been confirmed as the mandated Lead Arrangers for the project’s financing.

Speaking at the meeting that began yesterday, Finance Minister Ahmed Shide emphasized that Public-Private Partnerships are a central policy tool for closing the infrastructure financing gap and enhancing service delivery, particularly in the energy sector.

The Minister underscored the strategic importance of the Aysha 1 Wind Power Project, noting that it is expected to set a benchmark for future renewable energy and PPP projects in the country.

According to him, the project provides a replicable and financially viable framework to support Ethiopia’s clean energy ambitions and expand private sector participation in infrastructure development.

Ahmed acknowledged the coordinated efforts of AMEA Power, the PPP Directorate General, and Ethiopian Electric Power, and welcomed IFC and AfDB as mandated lenders, noting that their participation validates the strength of the transaction.

He also reaffirmed the government’s commitment to transparency, pragmatism, and adherence to global project finance norms throughout the due diligence and negotiation process.

Ethiopian Electric Power (EEP) Deputy-CEO, Ephraim Woldekidan, reaffirmed the utility’s commitment to the project, describing it as a flagship initiative that will significantly expand Ethiopia’s energy mix.

The project reflects EEP’s interest in engaging private-financed energy projects in the future and reiterated their commitment to support the project in every possible way, he added.

The discussions are scheduled to continue with further engagements involving the Ministry of Water and Energy, Petroleum and Energy Authority, Ethiopian Electric Power, and Ethiopian Electric Utility, followed by a site visit to the project location in Aysha Woreda, Somali Regional State, it was learned.

Upon completion, the project will add 300 MW of clean energy to Ethiopia’s national grid, diversify the country’s renewable energy mix, and establish a landmark precedent for privately financed large-scale power generation projects in Ethiopia.