Ethiopia Signs $285M Deal for Huge Wind Farm

The Ethiopian Electric Power Corporation (EEPCo) signed a €210 million ($285 million) deal with French wind turbine maker Vergnet today for 120 1-megawatt wind turbines. This is a huge project for the developing country, potentially representing 15 percent of EEPCo’s present capacity. Delivery of the turbines is scheduled to start next year with construction to be completed by 2011. The utility will finance the project with two complementary loans from European banks, including the French Development Agency.