In Ethiopia, and particularly in the Amhara region, the government as well as the concerned organization would not give special attention to establishing wind energy plants. Lack of scientific research inputs about potential assessment can be one of the reasons behind it. In this paper, a wind energy potential assessment for Debel, Malawa, Enwari, and Ayba Eyesus sites in the Amhara region has been investigated. Five statistical distribution methods namely Weibull 3P, Weibull 2P, Rayleigh 2P, Normal, and Lognormal are used to fit the data to the probability density function and cumulative distribution function. The proposed parameter estimation method, to precisely predict the values of the shape parameter, scale parameter, and location parameter, was the Maximum Likelihood Estimation Method (MLE). To analyze the goodness of fit of the models, Kolmogorov, Andersen Darling, and Chi-Square have been used. The test indicated that Weibull 3P is the best fitting method, except for Ayba Eyesus, which is suited to Weibull 2P. For Debel, Malawa, Enwari, and Ayba Eyesus, the maximum annual average wind power density was found to be 74.291 W/m2, 19.183 W/m2, 68.972 W/m2, and 49.221 W/m2 correspondingly. The evaluations show that VENSYS 87 turbine model has better performance in all three sites except Enwari, where Inox Wind DF 100 is favored. With their best performance turbine, the capacity factor of the sites is determined as 14%, 7%, 12%, and 14% for Debel, Malawa, Enwari, and Ayba Eyesus respectively. Furthermore, Economical analysis by initial cost, lifetime, operation, and maintenance cost, has been carried out to estimate the cost of energy. With VENSYS 87 turbine model, the three sites' present value costs are $5,479,586, while it costs $7,306,115 in Enwari with Inox Wind DF 100 turbine. The cost of electricity per kWh is estimated to be $0.00231, $0.00455, $0.00391, and $0.00312 for Debel, Malawa, Enwari, and Ayba Eyesus respectively, and it is significantly lower than the cost from Ethiopian electric utility (EEU), which is around 0.009$/kwh. Access to electricity in Ethiopia was reported at 45% in 2019. This indicates there is a shortage of energy in the country. This kind of study can help authorities and policymakers in taking into account wind power to mitigate energy poverty in the country.