When completed, the project to provide energy for both local consumption and export will be the largest source of foreign direct investment in Ethiopia.
Three-quarters of the project is funded by Reykjavik Geothermal, backed by private investors, while 25% will be borrowed. $40 million of investment has already been secured.
The geothermal farm -- located 200 kilometers (124 miles) south of the capital Addis Ababa -- will be built in two phases, with the first 500 MW phase to be completed in 2018. The second phase is expected to be finished in 2021.
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