November 3, 2018 – The International Finance Corporation (IFC) is working on a solar energy project in Ethiopia to produce 500 million megawatts of electricity according to Reporter.
The International Finance Corporation (IFC) is the private sector of the World Bank. The news follows the $ 1.2 billion that the World Bank provides for Ethiopia.
Sergio Pimenta, vice president of the Middle East and Africa IFC, told The Reporter that IFC runs a program called "Scaling Solar", in which the developer finances 500 MW of solar energy production investments.
According to IFC, when it is completed, the solar energy project will be Africa's largest.
Pimneta also said that the solar program is part of the newly established public-private association (PPP) structure of the Ethiopian Government. "At present, the interest and suggestion process has been finalized and the Independent Energy Management System (IPP) system is about to begin," Pimenta said.
Last week, Ethiopian Public Private Partnership (PPP) announced three new routes and 14 energy supply projects worth $ 7 billion.
The performance projects included in the plan include the 469MW Genale Daw 5, 100MW Genale 6, 280MW Chemoga 1 and 2, 424MW Halele Werabe, 798MW Dabus, 125MW Gad, 125MW Dichato, 100MW Mekelle, 100MW Humera, 150MW Wolenchiti, 150MW Weranso, 125MW Metema and 125 MW Hurso.