June 23 (SeeNews) - Chinese power-generating equipment maker Dongfang Electric Corp Ltd (SHA:600875) has agreed to develop and construct a 120-MW wind park in the Ethiopian state of Somali, local media say.
The company will work on the project under a contract with state-owned Ethiopian Electric Power Utility (EEPU).
The scheme is estimated to require a total investment of USD 257 million (EUR 226.7m). A fund secured from the Export Import Bank of China will cover 85% of the project cost, while the rest will come from the Ethiopian government, EEPU public relations head, Miskir Negash, was cited as saying in the reports.
The wind plant, which will be located in Aisha area, will use 80 units of 1.5-MW turbines. With a feasibility study conducted two years ago, the wind farm is scheduled to be up and running within a year and a half.
The project is part of the Second Growth and Transformation Plan (GTP II) under which the government of Ethiopia plans to build nine wind farms with a combined capacity of 499 MW. This translates into a USD-3.1-billion investment.
(USD 1.0 = EUR 0.882)