Monday, June 26, 2017

Ethiopia: British Company Advances 50 MW Fantale Geothermal Project

Cluff Geothermal gets the go ahead for Power Purchase Agreement kick-off meeting with Ethiopian Electric Power for its Fantale Licence in Ethiopia (News Release)

Following a positive meeting between Cluff Geothermal and the state power company, Ethiopian Electric Power (EEP), in Addis Ababa in June 2017, arranged by the British Embassy, Cluff has been given the go ahead to set up a Power Purchase Agreement (PPA) kick off meeting.

The kick off meeting with EEP will begin the PPA negotiations for the Fantale geothermal licence, awarded to Cluff in July 2015.  Once those negotiations are completed Cluff will be ready to begin exploration drilling at Fantale.  
Following their very successful surface campaign, and extensive consultation as to a Conceptual Development Plan, Cluff plans to begin the Fantale site development with a 50 MWe development phase followed by a 100 MWe development phase.  The total estimated investment for these first two phases could be in the region of USD 750 million.

Hotspur Geothermal Limited operates under the name Cluff Geothermal Limited in Ethiopia. Cluff Geothermal holds the Fantale Geothermal Exploration Licence.