Ethiopia’s first solar auction under the World Bank Group's Scaling Solar program has been won by ACWA Power of Saudi Arabia. Pictured is the 50 MW Vinh hao 6 Solar Power Plant in Vietnam energized by ACWA Power in June 2019. (Photo Credit: ACWA Power)
- ACWA Power has been adjudged the winner of the Scaling Solar tender for 250 MW solar capacity in Ethiopia
- It offered to develop the projects for the lowest bid of $0.02526 per kWh, according to the Ethiopian Ministry of Finance
- The Saudi Arabian company will develop the projects in Gad, Somali and Dicheto, Afar regions of the country
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Saudi Arabian energy company ACWA Power has secured rights to develop two solar power plants with a combined capacity of 250 MW in Ethiopia. The Ministry of Finance announced that ACWA Power offered to sell electricity from solar projects for $0.02526 per kWh. According to the Ethiopian ministry, the bid is the lowest in Africa currently and one of the lowest globally.
With this, ACWA Power has become the winner of the first round of solar PV public private partnership (PPP) projects under the World Bank Group’s Scaling Solar program for which Ethiopia invited proposals in April 2019 (see Round 2 For Ethiopia Scaling Solar Tender).
Projects will be located in Gad, Somali and Dicheto, Afar regions. ACWA Power beat four competitors to win the tender in the final round. The top 5 companies were asked to submit financial bids out of 12 shortlisted companies.
Under Scaling Solar, Ethiopia also increased the capacity of its 500 MW solar tender to 750 MW in May 2019 by adding two more sites to the list (see Scaling Solar Ethiopia Tender Now 750 MW).