ACWA, Ethiopia Ink Power Purchase Deal

Dec 21 , 2019

ACWA Power, a Saudi Arabian power company, signed a 20-year power purchase agreement (PPA) with Ethiopian Electric Power on December 19, 2019. The agreement was made for two 125MW solar photovoltaic (PV) projects in Afar and Somali regional states. ACWA will sell the power at 0.0252 dollars a kilowatt-hour from Gad Solar Project in the Afar Regional State and 0.0259 dollars a kilowatt-hour from Dicheto Solar Project in Somali Regional State. With a combined capacity of 250MW, the PV projects are estimated to power 750,000 homes in Ethiopia and offset 320,000tn of carbon dioxide a year. ACWA Power was selected as the winner of the project out of 12 pre-qualified bidders.


High-Level Event Aims to Address Humanitarian Crisis

Development partners and government officials are expected to discuss improved humanitarian responses at a crucial event in Geneva, Switzerland this week. Co-hosted by the Ethiopian government and the UN Office for the Coordination of Humanitarian Affairs (OCHA), the primary goal is to secure pledges from both development partners and the government, according to officials. Millions face hardship due to conflicts, economic downturns, climate shocks, and disease outbreaks, according to a UN st...


Mastercard Announces Up to $2.5m Grants for Agribusinesses

Small and medium enterprises (SMEs) in the agricultural sector are poised for financial support as the Mastercard Foundation Fund pledges to award grants over the next three years. The Agribusiness Challenge Fund will award grants ranging from half a million dollars to 2.5 million dollars to qualifying businesses in Ethiopia and 19 other countries. According to Smita Sanghrajika, an engagement partner at the Foundation, agribusinesses have lacked the financial resources needed to scale up and...


Document Authentication Service Gets Fee Revamp

The Council of Ministers approved a new regulation for the Federal Document Authentication & Registration Service last week which introduces a two-tier fee structure for citizens and foreigners, with an overall increase. Beginning at 100 Br for citizens seeking document authentication for an assigning agency of single documents, the ceiling goes up to 500 Br while foreigners pay double these rates. Implementation of the new fees began this week. These changes come alongside a digitisat...