China EXIM Bank Funds Construction of Messabo Harrena Wind Farm
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Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Ethiopia
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
Yes
Category
Project lifecycle
Description
In 2009, Ethiopian Electric Power Corporation (EEPCo) signed a preliminary agreement with Hydro China Company and the China Overseas Construction Group (CGCOC) for the construction of two wind farms to be reserved for emergencies. The Messabo Harrena project, the second of these wind farms, will be built at the expected cost of 127 million USD. It will be financed in part by the Chinese Exim Bank. The Adama and Messabo Harrena projects will cost about 123 million USD (reports actually say 117) and 127 million USD, respectively. The two projects will generate 51 MW wind power each. The Adama wind farm is located 95 km east of Addis Ababa, near Adama in Oromia, while the Messabo Harrena project lies 763 km to the north near Mekelle. EEPCo plans to get 30 MW of wind power within six months from the date of the contract. It is unclear which stage has the project gotten to, and whether an official commitment from China Eximbank has been made.
Number of official sources
1
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
Ethiopian Electric Power Corporation (EEPCo) [State-owned Company]
Implementing agencies [Type]
China State Construction Overseas Development Co., Ltd. [State-owned Company]
Hydrochina Corporation Limited [State-owned Company]