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afrol News, 7 May - Ethiopia has signed a financing agreement with France amounting to 210 million Euros for the implementation of the Ashegoda Wind Power Project in Tigray State.

The agreement was signed today by the Chief Executive Officer of the Ethiopian Electric Power Corporation (EEPCo), Mihret Debebe and ambassador of France to Ethiopia, Jean-Christophe Belliard.

The Ashegoda wind harnessing project, expected to be completed in 3 years and said to be the first of its kind for Ethiopia, will have an installed capacity of 120 MW, along with annual energy production of 400 to 450 GWH.

Ambassador Belliard said at the signing that the project will contribute to ongoing efforts of Ethiopia to distribute electric power service in Africa, while also strengthening the relationship between the two countries.

Ethiopia is Africa's biggest coffee producer, its produce accounted for about 60 percent of the nation's foreign exchange revenue in the 2007 to 2008 June to July season.

A World Bank assessment conducted by Africa Infrastructure Country Diagnostic (AICD) earlier this year had said Ethiopia needs to invest at least US$ 5 billion every year for a decade to bring it to an acceptable level as compared to its African neighbours.

By staff writer

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