October 28 (Renewables Now) - 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.