Ethiopia: Renaissance Dam Power Transmission Project Gets U.S. $1 Billion Loan

Mihret Debebe, Chief Executive Officer (CEO) of the Ethiopian Electric Power Corporation (EEPCo), and China Electric Power Equipment and Technology Co, Ltd (CET) of SGCC, signed a $1 billion loan agreement for the construction of the Grand Ethiopian Renaissance Dam power transmission line project.
The project which will cost an estimated $1.2 billion has a total length 700 Kilometers. Upon completion, the GERD-Dedessa-Holeta power transmission project will have two 500kv double circuit transmission lines to the new Dedessa, then Holeta substations following which it will join the national grid via the 400kv line from Holeta to Sebeta II, Holeta to Sululta II, and Holeta to Akaki II substations.
Signing the agreement, Mihret Debebe, CEO of EEPCo, noted that the project is one of the biggest extra high voltaic transmission lines, in Africa. The CEO also highlighted that the project will have significant role in linking the region through power transmission as it will not only supply power to the Ethiopian national grid but also to the two corridors that connect South Sudan and Sudan.
He further stated that the GERD is a milestone project aimed at making Ethiopia the green energy hub in the region as well as on the continent. On the occasion he noted that 85% of the project's cost, the equivalent of $1 billion will be covered by the loan from the government of China while the remainder will be financed through the coffers of the Ethiopian government.
Speaking on behalf of the SGCC, Du Zhigang, Deputy President of SGCC, stated that his company understood the importance attached to the project and would strive to carry out the project as per the time frame set for the completion of the project by the Government of Ethiopia. http://allafrica.com/stories/201304300319.html