ACWA Power,a leading international developer and operator of power generation and water desalination projects signed two long-term power purchase agreements (PPA) with Ethiopia’s state-owned electricity producer Ethiopian Electric Power (EEP) for two 125 MWac solar photovoltaic (PV) projects at US$2.526 cents/kWh over 20 years.
ACWA Power won the bid for the two PV plants of 125 MWac each during the first round of Ethiopia’s solar program organized by the PPP-DG under the new PPP law and signed a Letter of Intent with the Ministry of Finance and EEP in October 2019.
With a combined capacity of 250 MWac, the PV projects are estimated to power 750,000 homes in Ethiopia and offset 320,000 tonnes of carbon dioxide per year. The new plants will be located in Dicheto, in the Afar region, and in Gad, in the Somali region of the country.
ACWA Power was selected as the winning bid out of 12 pre-qualified bidders. While these solar projects will be ACWA Power’s first venture in Ethiopia, the company already operates in Africa with solar and wind assets in Morocco, South Africa, and Egypt, fuelling the power needs of respective communities.
Country updates
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September 20, 2019
Contract award for 250 MW solar PPP contract in Ethiopia
Saudi Arabia’s energy firm ACWA Power has been awarded USD 300 million worth solar contract to develop two photovoltaic plants with a combined capacity of 250 MW after its bid was approved by th...
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May 13, 2019
Ethiopia adds two more projects for Off Scaling Solar Round 2 tender
The Public-Private Partnerships Directorate General (PPP-DG) within the Ministry of Finance of the Government of Ethiopia has expanded the initially launched Request for Pre-Qualification (RFQ) f...
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May 09, 2019
Tulu Moye Geothermal Operations Plc seeks EPC contractor for the first phase of 520 MW geothermal project
A request for expressions of interest has been issued by Tulu Moye Geothermal Operations Plc for an engineering, procurement and construction (EPC) contractor for the 50 MW first phase of the 520 MW T...
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May 02, 2019
RFQ issued for renewable Scaling Solar Round II project in Ethiopia
Ethiopia’s Public-Private Partnerships Directorate General within the Ministry of Finance issued an RFQ for four renewable Scaling Solar Round II energy projects auction program. The f...
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April 29, 2019
Meridiam Infrastructure Africa Fund closes at EUR546
Meridiam has closed its Meridiam Infrastructure Africa Fund (MIAF) which was reopened in November 2018 for EUR546 (US$613.5 million) surpassing its initial target of EUR 510 million (US...
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