Ethiopian Energy^Power Business Portal

(Adapted from thinkgeoenergy, 2017)

IFC is providing $20 million in equity funding to the Africa Renewable Energy Fund (AREF) managed by Berkeley Energy, replacing an investor that stepped out. AREF is invested in the Corbetti geothermal project in Ethiopia.

 

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       (IRENA Press Release, November 2017)

The International Renewable Energy Agency (IRENA), in partnership with the Abu Dhabi Fund for Development (ADFD), is inviting applications for renewable energy projects in developing countries. Within the framework of the ADFD-funded US$350 million (AED1.285 billion) IRENA/ADFD Project Facility, the current funding round of US$50 million in concessional loans marks the sixth of seven annual cycles.

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The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank on 17 May 2019 approved a $995,000 grant to support the roll out of a sustainable procurement framework for Independent Power Producers (IPPs) in Ethiopia.

The SEFA grant will encourage private investments into hydropower projects through Ethiopia’s Renewable Energy Programme.

It will strengthen the government’s capacity to undertake bankability and technical analysis including feasibility assessments of projects in the hydro priority pipeline. The grant also provides for environmental and social impact assessments, resettlements action plans, and preparation of bidding documents for hydro projects.

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Project Landscape

The Ethiopian Government recently announced the commencement of a tender for four solar photovoltaic (PV) projects. These four projects are in addition to two Scaling Solar projects which are currently being procured under the IFC’s Scaling Solar Programme. In addition, two separate solar PV projects are expected to be initiated later in the year. Each of these projects will be developed on a pubic private partnership (PPP) basis.

The request for proposals (RFPs) for the four projects are scheduled to be released in late April or early May 2019. The RFP for the two Scaling Solar projects is expected to be released to the prequalified developers before the end of February this year. The term of the power purchase agreements (PPA) will be 20 years.

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