The Ministry of Finance announced that the Government of Ethiopia and ACWA Power have mutually agreed to terminate the Gad and Dicheto solar projects of 125 MW each.
On December 19, 2019, the two projects were awarded to ACWA Power, a Saudi Arabian solar developer, with Ethiopia Electric Power entering into a 20-year Power Purchase Agreement at a price of 2.5260 US cents/kWh for both projects and an Implementation Agreement with the Ministry of Finance.
According to the Ministry of Finance, the two parties have chosen to pursue mutual termination due to several problems. In the near future, the Public-Private Partnerships Directorate General (PPP-DG) will re-tender the Gad and Dicheto projects.
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