Ethiopia, Addis Ababa, 22 December 2019: ACWA Power, a leading international developer and operator of power generation and water desalination projects, signed two long-term power purchase agreements (PPA) with Ethiopia’s state-owned electricity producer Ethiopian Electric Power (EEP) for two 125 MWac solar photovoltaic (PV) projects at USD 2.526 cents/kWh over 20 years. Implementation Agreements were also signed with the Government of Ethiopia, represented by the Ministry of Finance. The signing ceremony was attended by H.E. Abiy Ahmed Ali, Prime Minister of Ethiopia, H.E. Sami bin Jameel Abdullah, Saudi Ambassador to Ethiopia, H.E. Ato Ahmed Shide, Ethiopia’s Minister of Finance, Dr. Abraham Belay, Chief Executive Officer of EEP, Tilahun Haile, Director of Ethiopia’s Public-Private Partnerships Directorate General (PPP-DG) of the Ministry of Finance, and Paddy Padmanathan, President and Chief Executive Officer of ACWA Power.