Acwa Power was awarded the contract for the construction of two solar photovoltaic plants with a combined capacity of 250 MW in Ethiopia. The plants are to be located in the states of Somali and Afar.
According to information provided by the Ethiopian Ministry of Finance, the energy company made an offer to sell the output of these plants at a price of $0.025, one of the lowest rates applied on the continent.
The construction of these plants, which is estimated to cost $300 million, is part of Ethiopia’s implementation of the World Bank’s Scaling Solar program.
As part of Scaling Solar, Ethiopia aims to build 750 MW of solar power plants, including 300 MW by 2020. Acwa Power is one of five energy companies that intend to participate in achieving this goal.