The Ministry of Water,Irrigation and Energy as well as the Ethiopian Electric Power Corporation have approved a 300 MW Solar Project in partnership with two U.S. Firms, Global Trade and Development Consulting and Energy Ventures.
Global Trade and Development Consulting together with its Project Development Partner, Energy Ventures, both Maryland-based companies, today announced that they have been awarded the contract by the Ethiopian Ministry of Water and Energy and the Board of Directors of the Ethiopian Electric Power Corporation to build, operate, and transfer three (3), one hundred (100) megawatt solar sites, in the eastern region of Ethiopia.
Ethiopia will need to increase its domestic electricity tariff by 400pc in order to realise its planned 28 power generating projects over the next 25 years.
As part of Ethiopia’s plans to become a major power exporter in East Africa, the state utility company said on Friday that it is building Africa’s largest Geothermal Power Plant.
Africa's biggest wind farm began production in Ethiopia on Saturday, aiding efforts to diversify electricity generation from hydropower plants and help the country become a major regional exporter of energy.
The Ethiopian Electric Power Corporation (EEPCO) is set to pay 630.7 million dollars a year to Reykjavik Geothermal (RG), once the latter completes its 1,000MW geothermal project near Shashemene, 240km south of Addis Abeba.
