ACWA Power to build 200 MW PV plant in Egypt and 250 MW PV capacity in Ethiopia
Post date: 01/11/2019 - 10:05
Saudi Arabian Company For Water And Power Projects (ACWA Power) signed a Power Purchase Agreement (PPA) with the Government of Egypt to develop, finance, construct and operate the »Kom Ombo« photovoltaic plant, which will yield a capacity of 200 MW. Construction is expected to be completed during the first quarter of 2021. Egypt targets to increase the overall capacity of renewable energy to 20 percent by the year 2020.
Furthermore, the company was awarded two 125 MW(ac) solar photovoltaic projects by the Public Private Partnership Directorate General (PPP-DG) of the Ethiopian Ministry of Finance. ACWA Power won the bid for the plants during the first round of Ethiopia’s solar programme organized under the new PPP law. ACWA Power and Ethiopia Electric Power (EEP), the state-owned electricity producer, and the Ministry of Finance signed a Letter of Intent in October 2019. The entities will proceed to sign a long-term power purchase agreement for the projects at ¢2.52 per kWh over a time span of 20 years before the end of 2019. With a combined capacity of 250 MW, the projects will contribute in addressing the current energy shortfall as well as diversifying the energy mix in Ethiopia, where the Government is currently working to increase the electricity generation capacity of the country from currently 4,300 MW to 17,300 MW by 2020. According to the company, the new plants will be located in Dicheto, in the Afar region, and in Gad, in the Somali region of the country.