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Sat 28 Dec 2019 01:11 AM

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Saudi's ACWA Power signs deals for Ethiopian solar plants

ACWA Power wins bid for two 125MW plants during the first round of Ethiopia's solar programme

Saudi's ACWA Power signs deals for Ethiopian solar plants

Paddy Padmanathan, president and CEO of ACWA Power.

Saudi-based ACWA Power has signed two long-term power purchase agreements with Ethiopia’s state-owned electricity producer Ethiopian Electric Power (EEP) for two projects over 20 years.

ACWA Power said it won the bid for the two 125MW plants during the first round of Ethiopia’s solar programme.

With a combined capacity of 250MW, the 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.

Paddy Padmanathan, president and CEO of ACWA Power, said: “We are pleased to have been selected to deliver the first projects to be tendered under the new public-private partnership framework in Ethiopia.

“The 250MW projects are the first of a kind in the Ethiopian utilities landscape and will be a support the diversification of the energy mix within the country.”

ACWA Power was selected as the winning bid out of 12 pre-qualified bidders. The company already operates in Africa with solar and wind assets in Morocco, South Africa and Egypt.

Ato Ahmed Shide, Ethiopia’s Minister of Finance, said: “Ethiopia has highly ambitious growth plans that require a reliable, secure and affordable supply of energy. Our focus is to expand our renewables capacity and we are confident that ACWA Power’s leadership and international expertise in this sector will benefit us significantly."

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