The Finchaa-Amerti-Neshe multipurpose hydropower and irrigation project, located in the Blue Nile River basin about 250 km northwest of Addis Ababa, is a major energy and irrigation development in Ethiopia. As such, the project is expected to provide nationwide benefits. Economic merits and the extent of environmental and socio-economic impacts were evaluated during pre-feasibility and feasibility studies. Additional assessment was performed to compare and rank the project with respect to other similar developments in Ethiopia, either recently implemented or candidate projects. The paper discusses methods of the project's comparison and ranking based on loss of land and cost of relocation of affected people, versus installed capacity and annual firm energy generation of the project. (c) 2006 Elsevier Ltd. All rights reserved.