Ethiopia:

Financing Agreements Signed for Tendhao Geothermal Energy Project (Walta Info)

Financing Agreements for the Development of Geothermal Energy in the Tendhao area (Afar) of north-east Ethiopia, were signed on April 7, 2015 between the Ethiopian Government and French Agency for Development (AFD) and the European Commission at a ceremony held at the Ministry of Finance and Economic Development.

As per the agreements, the total financing amounting to 16.5 million euros has been jointly provided by the French Agency for Development, through a euro 9 million soft loan, and by the European commission, through a euro 7.5 million grant of the EU Trust fund for infrastructure in Africa.

The project aims at identifying a low-carbon geothermal resources and contributing to the development of this energy sub-sector in the country where there is huge potential. The funding will also be dedicated to the development of shallow reservoir, equipment purchase and to strengthen the capacities of Ethiopia Electric Power (EEP) and the Geological Survey of Ethiopia (GSE).

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