Ethiopia Secures Loan from World Bank for Substations

Ethiopia secured a loan from the World Bank for the construction of substations for the project of the power interconnection of Ethiopia and Kenya. The loan was confirmed by Haji Mohammed, Head of Public Relations, for the Ministry of Finance and Economic Development.

Delegates including Mihret Debebe Chief Executive of the Ethiopian Electric Power Corporation traveled in Washington DC to the bank headquarters to negotiate the terms of the loan. The loan agreement will be signed between Ethiopia and the World Bank this coming July.

It is expected that the project will be launched next year and is expected to supply 400 MW of electricity in four years.

It is to be remembered that the African Development Bank approved a 231 million US dollar loan for the Ethiopia-Kenya power interconnection project.

The Ethio-Kenya power interconnection system is planned to provide a reliable power supply to Kenya from Ethiopian hydro electric power supplies.

The total length of the intended transmission inside Ethiopia is estimated to be about 434 Kilometers, across the Oromia and Southern Regional States. The transmission line is expected to be a high voltage direct current with a 400KV double circuit line.

The power interconnection project is expected to earn millions of dollars for Ethiopia in power exports according to experts with the Ethiopian Electric and Power Corporation.

Source: Addis Fortune

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