East Africa:

EU, AU Set to Catalyze Geothermal Development in Eastern Africa (Global Times)

The European Union (EU) and the African Union (AU) have come up with an initiative to catalyze geothermal development in Eastern Africa and other parts of the African continent.

The innovative mechanism, Geothermal Risk Mitigation Facility (GRMF) provides grants to investors to reduce costs and risks.

GRMF provides public and private sector developers with partial grants for surface studies leading to drilling and for reservoir confirmation drilling to mitigate the risk associated with geothermal resource exploration.

A two-day stakeholders' meeting was organized at the AU Conference Center in Addis Ababa, Ethiopia, on Wednesday to deliberate on the GRMF and development of geothermal resources in Africa.

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