In spite of nine years of negotiations since Ethiopia took advantage of the chaotic Arab Spring to begin construction of the $4.6 billion Grand Ethiopian Renaissance Dam (GERD) on the Blue Nile the concerned parties — Cairo, Khartoum and Addis Ababa — are still far from reaching an agreement on various technical and legal issues.
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.
This emerald ribbon is the vegetation that grows on either side of the Nile River and around its delta. It is Egypt’s only fertile land — and testament to the country’s reliance on this fabled waterway.