The need to meet the world’s growing demand for energy in an environmentally sustainable manner has led to the exploration of various renewable energy (RE) resources for power generation. The objective of this study is to examine the techno-economic potential of concentrated solar power plants (i.e., linear Fresnel reflector (LFR) and central receiver system (CRS) for electricity generation in Eastern African countries with a case study on Ethiopia. The study was conducted using the System Advisor Model (SAM). In order to estimate the economics of the two power plants, the Levelized cost of energy (LCOE) and the net present value (NPV) metrics were used. According to results obtained from the simulations, the LFR produced annual energy of 528 TWh at a capacity factor (CF) of 60.3%. The CRS also produced a total of 540 TWh at a CF of 61.9%. The LCOE (real) for the CRS is found to be 9.44 cent/kWh against 10.35 cent/kWh for the LFR. The NPV for both technologies is found to be positive for inflation rates of 2% and below. An inflation rate above 2% renders the two power plants financially impracticable. A real discount rate above 9% also renders both projects economically unviable. Based on the obtained results, the CRS system is identified as the best technology for electricity generation under the Jijiga climatic condition in Ethiopia.