The Ethiopian Electric Power Corporation (EEPCo) concluded a USD 1.2 billion contract with State Grid of China Electrical Power Equipment & Technology CO. Ltd. for the installation of transmission lines to connect the power generated from the 6,000-megawatt Grand Ethiopian Renaissance Dam on the Blue Nile River with the nation grid.
The Ethiopian government will spend USD 180 million of the project cost, while the balance will be covered by a loan obtained from a Chinese state owned bank.
The agreement was signed on by Jia Zhi Quiang CEO of SGCC and Mehret Debebe, CEO of Ethiopian Electric Power Corporation on April 26, 2013 at the Sheraton Addis.
"our plan is to complete the construction of the transmission line in 24 months, before the end of the GERD" Mehret said.
With significant investment in hydro-power dam projects, Ethiopia aims to become Africa's electricity exporter.
SGCC, based in Beijing, is the largest electric power transmission and distribution company in China and one of the largest utilities company in the world.