November 3, 2018 - The International Finance Corporation (IFC) is working on solar power project in Ethiopia to generate 500 megawatt of electricity, according to the Reporter.
The International Finance Corporation (IFC) is the private sector of the World Bank. The news comes following $1.2 Billion grant this weel to Ethiopia by the World Bank.
According to The Reporter, Sergio Pimenta, vice president of IFC for the Middle East and Africa said that IFC is running a program called “Scaling Solar” in which the development financier will scale-up investments for the production of 500MW of solar power.
According to IFC, once completed, the solar project will be Africa's largest.
Pimneta also said the 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 Ethiopian office of the Public-Private Partnership (PPP) announced three new roads and 14 power supply projects at a cost of 7 billion USD.
The power projects under that plan included a-469MW Genale Daw 5, 100MW Genale 6, 280MW Chemoga 1&2, 424MW Halele Werabe, 798MW Dabus, 125MW Gad, 125MW Dichato, 100MW Mekelle, 100MW Humera, 150MW Wolenchiti, 150MW Weranso, 125MW Metema, and 125MW Hurso.