(SeeNews) - Nov 29, 2013 - US firms Global Trade and Development Consulting and Energy Ventures said Thursday the had received the thumbs-up from the Ethiopian Electric Power Corp (EEPCo) to build a 300-MW solar park in the African country.
The Maryland-based companies will construct three solar plants of 100 MW each in eastern Ethiopia as part of a contract secured at the beginning of this month from EEPCo and the country's Ministry of Water and Energy. The deal has already been approved by the government.
Site selection, due diligence and feasibility study for the project were finalised earlier this year. After construction is finalised, Global Trade and Development Consulting and Energy Ventures will transfer the photovoltaic (PV) capacity to EEPCo while they will remain responsible for the operation.
Currently, Ethiopia generates most of its electricity from hydropower and geothermal stations and seeks to boost its installed capacity to over 20,000 MW by 2020. Last month the country, which has an estimated geothermal capacity of up to 5,000 MW, signed an official deal under which Iceland-based Reykjavik Geothermal will build a 1,000-MW geothermal complex.