The corporation signed the accord with China Gezhouba Group Company (CGGC) for construction of Genale Dawa 3 hydropower project, located in southern part of Ethiopia on border area of Oromia and Somali regional States.

The project will be constructed at a cost of 408 million USD. It is expected to generate 254 mega watt electric power, EEPCo Chief Executive Officer, Mihret Debebe said.

A 110 meters high dam will be constructed on the Genale River. The project will increase the current capacity of 860 MW by 27 percent, Mihret said.

CGGC representative, chief engineer Wang Chenli said construction of the dam will be finalized in four years time.

The corporation also signed accord with Sinohydro Corporation for construction of Chemoga Yeda hydropower project located near Debremarkos area of Amhara state.

The project costs 555 million USD investment capital, Mihret said. The project includes construction of five dams on five rivers. The first phase of the project will be finalized in four years time, he said.

Representative of the company Chen Yushan on his part said his company has rich experience in hydropower construction.

Similarly, the corporation has signed a preliminary agreement with HYDROCHINA Company for construction of wind power projects in Adama and Mesobo Harena areas.

Each wind power project can generate 51 mega watt electric power for an emergency case. The projects will be financed with fund made available by Chinese government through EXIM Bank of China.

HYDROCHINA Deputy General Manager Wang Minhao said Ethiopia is endowed with vast renewable energy resources.

The corporation is constructing Tekeze, Beles, Amerti Neshi, Gibe 2 & 3 hydropower projects at present.

Additional hydropower and wind power projects, which are in the pipeline to be constructed, are expected to generate additional 5000 mega watt electric power.

Some 12 billion USD budget has been earmarked for nation's 25 years Power Sector Master Plan of which 70 percent allocated for generating power.

Top government officials including Minster of Trade and Industry Girma Birru, and Mines and Energy Minster Alemayehu Tegenu attended the signing ceremony.

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