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US awards grant for Ethiopian geothermal feasibility study

Geothermal power station. Featured Image: N.Minton/Shutterstock.com

August 29 (Renewables Now) - The US Trade and Development Agency (USTDA) has awarded a grant for a feasibility study that will support the development of the first phase of the 520-MW Tulu Moye geothermal project in Ethiopia.

Specifically, USTDA will grant an undisclosed sum to TM Geothermal Operations Pvt Ltd Co (TMGO), an Ethiopia-based firm owned by infrastructure fund manager Meridiam and sector specialist Reykjavik Geothermal (RG). TMGO will coordinate the feasibility study for the first 50-MW project as part of Tulu Moye. The study itself will be conducted by US firm Delphos International Ltd.

Ethiopian Electric Power inked implementation deals and power purchase agreements (PPAs) in December 2017 to enable the private sector to develop the Corbetti and Tulu Moye geothermal projects totalling 1 GW. USTDA notes that the total estimated private investment surpasses USD 4 billion (EUR 3.4bn).

(USD 1.0 = EUR 0.855)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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