May 28 (Renewables Now) - Ethiopia on Thursday signed a DKK-1.26-billion (USD 197m/EUR 169m) loan agreement with the Danish government to finance the 100-MW Assela wind farm project.
The loan was signed at a ceremony at Ethiopia's Ministry of Finance and Economic Cooperation (MoFEC), the latter said on Facebook.
This is the first loan that Denmark provides to Ethiopia through the Danish International Development Agency (DANIDA), according to the statement. The ministry said the wind farm will contribute to the Ethiopian government's goal to diversify the country's energy mix and improve electricity access.
The wind farm is due to be completed in the middle of 2020, when it will be supplying electricity to almost one million people, according to a Twitter post by the Danish embassy in Addis Ababa.
(DKK 1 = USD 0.156/EUR 0.134)