A resolution passed by the United Nations Security Council to enact further sanctions on Iranian assets is expected to delay 
Ethiopia’s bid to export electricity to Sudan as the construction of substations and the supply of equipment had been awarded to Iran Power & Water Export of Equipment & Services Company in an international bid.
The Ethiopian Electric Power Corporation and IPWEESC had subsequently reached an agreement fro the completion of the project in 18 months, with a 41 million US dollar loan from the World Bank providing the financing and an ultimate aim of exporting 100MW of electricity to Sudan commencing in May 2012.
The EEPCo has been unable to complete payments to the company and to take delivery of equipments ordered from it as the resolution prohibits Iranian banks from transferring money according to a senior official with the utility provider.The World Bank is allowing EEPCp to make direct arrangements for payment for and delivery of the equipment with four international suppliers of IPWEESC French Ariva, Italian Erickson, Dutch Philips, and Chinese TBEA.
The EEPCo has begun negotiations with the suppliers according to sources.
The Sudanese government has also reached a decision to import 300,000 US dollars worth of equipment to facilitate power exports. The cost for the equipment, expected to be delivered in the coming two weeks will be refunded by the Ethiopian government from the power sale explained sources.
Source: Addis Fortune
