Ethiopian Electric Power and China sign US$98m power transmission deal
The Ethiopian Electric Power (EEP) in conjunction with a Chinese firm, TBEA Contractor Ltd signed a US$98m agreement that will see the power transmission project take place.
The mega power project which will be developed in Addis Ababa is anticipated to satisfy the power demand in the Koye Abo, Koye-Fitche, Kilinto and Bole Lemi areas of Addis Ababa.
TBEA has been assigned to construct Bole-Lemi and Kilinto Industry Zone power transmission project.
EEP’s CEO, Azeb Asnake, and deputy general manager of TBEA signed the agreement. Asnake said that the projects are scheduled for completion in 12 months.
85% of funds for the development will come from the Exim Bank of China through a commercial loan and the balance will be provided by the government of Ethiopia.
Ethiopian Electric Utility (EEU) CEO, Gosaye Mengistie Abayneh, said: “Once we finish the Ethiopia-Kenya Transmission Line we can interconnect with Tanzania and beyond, followed by the interconnection with the Southern African Power Pool and probably the northern Africa through Sudan and Egypt”, he said.
TBEA is an enterprise group, accredited by the Chinese government, to engage in foreign economic and technical cooperation and to undertake national external assistance projects in Transmission, Transformation, New Energy and Advanced Materials.