News Flash
- Masdar has signed a joint development agreement with the Ethiopia Investment Holdings (EIH) for two solar plants with a combined capacity of 500MW.
- The deal was struck on the side-lines of the Abu Dhabi Sustainability Week which ended on Thursday last week.
The agreement covers the development, financing, design, engineering, procurement, construction, testing, commissioning, insurance, ownership, operation, maintenance and transfer of photovoltaic (PV) plants, and the infrastructure required to transmit the electricity. The co-development agreement was signed in the UAE capital Abu Dhabi in the presence of Ethiopian authorities, including Prime Minister Abiy Ahmed.
The electricity generated will be sold to the state-owned Ethiopian Electric Power (EEP) under a power purchase agreement (PPA) that has yet to penned. Ethiopia has begun commissioning of it mega hydro project, the 6450MW Grand Renaissance Dam Project which is said to be a game changer for the country in local power supply and potential power export. Read more
Author: Bryan Groenendaal
