ACWA Power to sign awarded PPAs in Ethiopia by end-2019

Saudi Arabia’s ACWA Power said Monday it will sign the power purchase agreements (PPAs) related to two 125-MW solar photovoltaic (PV) projects in Ethiopia before the end of 2019.

The Riyadh-based developer confirmed today its bids to deliver the twin projects were selected by the Public Private Partnership Directorate General (PPP-DG) of the Ethiopian finance ministry in the first round of the country’s solar programme.

In September, ACWA Power outcompeted four other proposals by offering a tariff of USD 0.02526 (EUR 0.0228) per kWh for both projects, which will give way to 20-year PPAs.

The success was followed by a letter of intent signed this month with Ethiopia Electric Power (EEP), the Ethiopian state-owned electricity producer, and the finance ministry, ACWA Power said.

The new solar farms will be located in Dicheto, in Ethiopia’s Afar region, and Gad, in the Somali region.

Choose your newsletter by Renewables Now. Join for free!