(SeeNews) - Sep 10, 2014 - Chinese firm Sinohydro Corp Ltd said Monday that a group led by it had signed an agreement with the Ethiopian Electric Power Corp (EEPCO) to develop a 371-MW hydropower plant (HPP) in the African country.
The joint venture (JV) that won the contract was set up by hydropower company Sinohydro, China Gezhouba Group and SUR Construction Plc of Ethiopia.
The Geba HPP will require an investment of some USD 670 million (EUR 517.2m). It is part of Ethiopia’s five-year Growth and Transformation Plan (GTP) and will help offset the country’s electricity shortage.
Previously, the three companies in the JV have successfully delivered Africa’s highest arch dam - the 300 MW Tekeze dam in Ethiopia.
(USD 1.0 = EUR 0.772)