Lotus Energy Cooperative, the Australian community-owned clean energy firm, has won the bid to build in a complex which combines solar, battery storage, and waste-to-energy capacity.

The construction of the complex in Ethiopia's Tigray region, close to the city of Mekelle, which may commence as early as September this year, will have at least 500 MW of solar parks, powering the EFFORT Group conglomerate.

Anthony Vippond, Lotus's CEO, estimates the 30-year deal at $30 billion. Mr. Vippond acknowledges the project seems "improbably large" for the company he chairs, which runs a blockchain-based energy transfer network in Australia, where it also has solar farms waiting to be connected into the grid, as well as operations in India. Regardless, he insists Lotus has potential backers lined up.

Lotus estimates the project will create 20,000 direct and indirect jobs, and 5 percent of the profits from the project will be invested in community and social projects.

Source: Australian Financial Review