Known as the Grand Millennium Dam, the project has sparked some concerns from environmentalists, but the plan seems to be moving ahead.
"When completed in 2015, the Grand Millennium Dam will be the largest hydroelectric power plant in Africa. It will also create the country's largest artificial lake, with a capacity of 63 billion cubic meters of water-twice the size of Lake Tana in Ethiopia's Amhara region.
In late June, Ethiopia announced that it would build four additional dams on the Blue Nile that will work in conjunction with the Grand Millennium Dam to generate more than 15,000 megawatts of electricity.
The cost of the four new dams has not been disclosed, but the Grand Millennium Dam is estimated to cost about $4.7 billion."