Ethiopia Set to Advance Geothermal Project (NewsDire)
Ethiopia is set to begin preparing renewable energy projects specified in their investment plan under the Scaling Up Renewable Energy Program in Low Income Countries (SREP) after successfully achieving investment plan endorsement from the SREP sub-committee at their meeting on 8 March 2012 in Nairobi, Kenya. SREP is a program of the Climate Investment Funds (CIF) of which the African Development Bank (AfDB) is an implementing agency.
Approved in principle, Ethiopia's investment plan calls for AfDB technical support and guidance to prepare and implement Phase II of the
Aluto Langano geothermal project. Project preparation grants were approved (USD 900,000) so work can get underway. Ethiopia will seek full endorsement of its investment plan by early May 2012. The Bank expects to channel USD 22.6 million in SREP financing to Ethiopia.
