Agreement Signed to Execute Close to 300 Mn USD PPP Solar Projects

Addis Ababa  December  19/2019   A Public Private Partnership (PPP) agreement for the implementation of two mega solar projects costing about 300 million USD was signed today. 

The agreement was signed between the Government of Ethiopia and the Saudi Arabia based international energy firm ACWA to build the mega solar projects in Somalia and Afar regional states.

Speaking to ENA after the signing ceremony, Finance State Minister Teshome Tafesse said the mega solar projects will together generate 250 MW when they become operational after 18 months.

The total solar projects that would be constructed by Public Private Partnership (PPP) are reportedly three, and implementation agreements are going to be completed in the first quarter of 2020.

Teshome stated that Ethiopia has been successfully managing the international tender process of PPP, pointing out that today’s agreement is a demonstration that the country is securing the cheapest energy tariff at the global level.

It is to be recalled that Ethiopia had issued international bid for the construction of six mega solar projects that will cost about 800 million USD.

The government is speeding up the tender process of 17 projects for Public Private Partnership (PPP) at global level, of which eight are solar energy projects, it was learned.