ACWA Power Signs Ethiopian Solar Deal to Open Up New Market

ACWA Power signed a 20-year deal to supply 250 megawatts of solar power in Ethiopia, enough for about 750,000 homes.

The power purchase agreement was struck with Ethiopia’s state-owned electricity producer Ethiopian Electric Power and covers two solar photovoltaic projects with capacities of 125 megawatts each, the company said in a statement on Monday.

The 20-year tariff will see power produced for $2.52 a kilowatt hour. The new plants will be located in Dicheto, in the Afar region, and in Gad, ACWA said. Source: Bloomberg