Ethiopia to generate 250 MW from solar power
ACWA Power has signed two long-term power purchase agreements (PPAs) with Ethiopia’s state-owned Ethiopian Electric Power for the generation of 250MWac of solar power in the nation. ACWA will sell the power at a price of US$0.02.526/kWh – what was billed as a record low for Africa back in September – over the course of 20 years, while implementation agreements were also signed with the Government of Ethiopia. The project developer hailed the agreements as a first of their kind for an Ethiopian utility. Photo Credit: CleanTecnica Letters of Intent were exchanged between ACWA and Ethiopia’s finance ministry in October this year, following ACWA landing contracts within the first round of auctions under Ethiopia’s solar programme. ACWA fended off stiff competition from 12 pre-qualified bidders within the auction process. Paddy Padmanathan, chief executive at ACWA, said the agreements signified the confidence the nation has in its ability to support its renewables ambiti...
