Tuesday, September 4, 2018

Ethiopia: 520 MW Tulu Moye Geothermal Project Moves Ahead

Company embarks on USD 2 bln geothermal project (The Reporter Ethiopia)

Tullu Moye Geothermal Operations Private Limited Company has embarked on the development a 520 MW geothermal project in the Oromia Regional State with an outlay of two billion dollars. 

The Tulu Moye Geothermal project is located in the Oromia Regional State, East Arsi zone, near Eteya town. Tulu Moye Geothermal Operations plans to develop 520 MW of electricity in four phases. Reykjavik Geothermal (RG), an Icelandic company, and Meridiam, a US firm, are shareholders of Tullu Moye Geothermal Operations.

The power purchasing agreement (PPA) was signed by the Ethiopian Electric Power (EEP) and the Ministry of Finance and Economic Cooperation along with Corbetti Geothermal project on December 2017. The two geothermal projects, the first independent power producers in Ethiopia, would have an installed capacity of generating 1,000 MW. The total investment costs are estimated to be four billion dollars.