UAE, Ethiopia Closer After $620m Aysha-1 Wind Project Deal

The Minister of State of the United Arab Emirates, Sheikh Shakhboot bin Nahyan Al Nahyan, on Sunday, 18th August 2024, visited his counterpart, meeting the Minister for Foreign Affairs of the Federal Republic of Ethiopia, at his office in Addis Ababa. These two leaders discussed the ways through which they could further boost their relationship and agreed to explore better ways to cooperate on all fronts.

Sheikh Shakhboot conveyed the greetings and best regards of H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, to the Ethiopian Foreign Minister, extending his wishes for the development and growth of Ethiopia. The Ethiopian Foreign Minister, for his part, conveyed his regards to H.H. Sheikh Abdullah bin Zayed and even further, his wishes for prosperity and progress for the UAE government.

During the discussion, Sheikh Shakhboot mentioned a strong, evolving relationship that now exists between UAE and Ethiopia, pointing out that the two countries would now look forward to furthering their cooperation with a strong view on mutual interests.

A major highlight of the visit was a signing ceremony of the agreement for the Aysha-1 wind project to be developed by Masdar in Ethiopia in the presence of Sheikh Shakhboot bin Nahyan and Ahmed Shide, Ethiopian Minister of Finance. Estimated at a total of USD 620 million, it is anticipated to be the biggest project in wind energy across the Horn of Africa. The significance of this project has set it as a landmark in Horn of Africa within the renewable sector. The agreement was signed for the UAE by Emirati Company, AMEA Power’s Chairman, Hussain Al Nowais.

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The project is a big indication that the UAE is wholly committed to ensuring that there are more initiatives in renewable energy on the global front, and it is bolstering its strategic partnership with Ethiopia to ensure potential future continued cooperation and shared prosperity.