- Two solar projects have been announced in Ethiopia with a combined capacity of 250MW.
- The World banks private sector arm, the IFC, will be providing both technical and financial support for the projects.
- The solar finance program is part of the newly instituted Public Private Partnership (PPP) program with the Ethiopian Government which also includes 5 hydro power projects.
The International Finance Corporation (IFC), the private sector arm of the World Bank announced that it is working on a solar power program that will help generate 500 megawatt of electricity in Ethiopia.
Sergio Pimenta, vice president of IFC in the Middle East and Africa said “the IFC has launched scaling solar in Ethiopia. The project’s total scale arrays up to 500 megawatts (MW) and the first phase is 250MW. Once completed the solar project is going to be the largest in Africa,” said Sergio Pimenta.
According to Pimenta, the scaling solar program is part of the newly instituted Public Private Partnership (PPP) structure the government of Ethiopia has initiated. “Currently, the process for expression of interest and proposal has been finalized and bid process for the Independent Power Purchase (IPP) scheme is about to commence soon,” Pimenta said.
Last week, the government of Ethiopia announced a number of large scale investment ventures totaling US 6.5 billion. Out of the 17 mega projects announced, 14 are power projects which include two solar projects with a combined capacity of 250MW.
The two 125 MW scaling solar projects include Gad Phase 1 which is in the Somali Regional State and the Dicheto Phase I in the Afar Regional State. The IFC will be providing both technical and financial support for these projects.
In addition to the solar power projects, five major hydro projects will also be developed within the PPP framework.
Author: Bryan Groenendaal