Wind Turbines in Assela Begin Electricity Supply


Wind Turbines in Assela Begin Electricity Supply

The first turbines at the Assela 100 MW wind farm have begun supplying electricity to the national grid, marking a major step in the country’s renewable energy expansion. Once fully operational by end of 2025, the farm’s 29 turbines are said to generate over 300 GWh annually, enough to power 140,000 households. Located 150 km South of Addis Abeba, the project is owned by Ethiopian Electric Power (EEP) and fully financed by Denmark, the total investment of 146 million euro was supported by a 117.3 million euros loan from Danske Bank and an additional 28.7 million euro grant and built by the Spanish-German company Siemens Gamesa Renewable Energy (SGRE). The wind farm aligns with the country's goals to diversify energy mix, reduce reliance on hydropower, and cut carbon emissions to achieve the sustainable development goals and middle income status by 2030. High-level officials from Ethiopia, Denmark, and the EU celebrated the milestone on May 22, 2025, praising the project’s role in strengthening climate resilience and regional energy integration. Semereta Sewasew, State Minister of Finance for Economic Cooperation, acknowledged the project’s use of blended finance and partnerships, while the Ambassador of Denmark to Ethiopia, Sune Krogstrup called it a fruitful partnership and emphasised Denmark’s on support for clean energy transition not only advances renewable energy capacity but also strengthens the bonds between the two countries.

[ssba-buttons]

Radar

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of main track and 800 meters of side rail. Chief Project Manager Engineer Nigist Hailu said the line is expected to be completed within six months, facilitating the transport of raw materials and finished goods to Djibouti's port. More than 100 local workers have already joined the project, with addi...


Radar

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same period last year. The rise in premiums was attributed to higher deposits from member financial institutions. To date, the fund has collected a total of 15.93 billion Br in premiums from member institutions, with 14.51 billion Br coming from regular deposits and 1.42 billion Br from interest-free depo...


Radar

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spread over six months after travel with 16.5 interest rate and allows customers to book flights upto 300,000 Br. Developed in collaboration with Ethiopian Airlines, the platform is part of a broader effort to expand digital finance and simplify access to services. The initiative seeks to enhance conven...