ACWA Power won the bid for the plants during the first round of Ethiopia’s solar programme organised 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. The entities will proceed to sign a long-term power purchase agreement for the projects at US$2.52 cents/kWh over a time span of 20 years before the end of 2019.

(LINK).