According to local reports Ethiopian Electric Power is going to sign contract agreements with independent power producers for the construction of geothermal power plants in Corbetti and Tulu Moye in Oromia Regional State.
The agreement will be signed on December 19 at the Sheraton Addis. Ethiopian Electric Power will sign the contract agreements with Corbetti Geothermal which will develop a 500 MW geothermal power plant in Corbetti, East Arsi zone, near Shashemene town. The total cost of the project is estimated at two billion dollars.
Ethiopian Electric Power will also sign the second agreement for the Tulu Moye geothermal power plant project on Tuesday with Reykjavik Geothermal (RG). RG is the first independent power producer company to sign a power purchasing agreement with the Ethiopian government.