China Eximbank provides $293.25 million preferential buyer's credit for Phase II of the 153MW Adama Wind Power Construction Project (Linked to Project ID#1380)

On March 27 2013, China Eximbank and Ethiopian Electric Power Corporation signed a $293,250,000 preferential buyer credit (PBC) loan for Phase II of the 153MW Adama Wind Power Construction Project (or 阿伊萨风电项目拟安 or Adama II Wind Farm). The total cost of the project was approximately $340 million. The lending terms were as follows: 20 year maturity, 8 year grace period, and 2% interest rate (see 'Public Sector Debt Statistical Bulletin No. 11'). The contract for the second phase of the project was signed on October 11, 2012. The project was contracted to Hydrochina Corporation (for the feasibility study), CGC Overseas Construction Co., Ltd. (for mechanical work) and the Chinese company Sany (for the provision of the turbines). The Adama II wind farm is located near the city of Adama in a range of rocky hills in the Ethiopian highlands 100 kilometers southeast of the capital Addis Ababa. It has a capacity of 153 MW and a total of 102 turbines; 10km worth of transmission lines connect the wind farm to the 230kv grid via the Koka substation. This project was officially completed on May 18, 2015.

Additional details

This is the second phase of Ethiopia's Adama wind farm expansion (Project ID #1380).

Number of official sources

18

Number of unofficial sources

20