Reykjavik Geothermal split the 1000 MW geothermal development project into two phases–the 500 MW Corbetti project and the 500 MW Tulu Moye and Abaya project–each costing two billion dollars.
The much delayed two billion dollars Ethiopian geothermal development project, Corbetti Geothermal, near Shashemene town is finally to take off the ground.
Corbetti Geothermal, a multi-national energy company that has been working to develop 500 MW of electric power from geothermal sources in the Corbetti Caldera in East Arsi Zone, and the Ethiopian government have resolved their differences on the implementation of the project through negotiations to resurrect the pending project.
Corbetti Geothermal, the Ethiopian Ministry of Water, Irrigation (MoWIE) and Electricity and the Ethiopian Ministry of Finance and Economic Cooperation are finalizing negotiations to sign the final agreement that will enable the company to embark on Africa’s largest geothermal project.
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