(Aug 01, 2015, (The East African))--The privately owned Corbetti Geothermal Company has signed a power purchase agreement for 500 megawatts of electricity with Ethiopia.
The planned 1,000MW Corbetti project in the central Oromia region, estimated to cost to about $4 billion, is to be constructed in two phase within a period of eight to 10 years and is expected to one of Africa’s largest geothermal facilities on completion.
Ethiopian Electric Power Corporation (EEPCo) and Corbetti Geothermal Company, owned by Reykjavik Geothermal Ltd of Iceland, have signed a 25-year power purchase agreement for the first 500 MW.
EEPCo chief executive officer Azeb Asnake said Ethiopia is willing to connect power transmission lines to neighbouring countries to create a market in the region for the trade in electricity.
He said the geothermal generation will be carried out by Corbetti in southern Ethiopia. The $4 billion Corbetti geothermal project has 25 per cent equity financing and 75 per cent debt financing. Read more from The East African »
The planned 1,000MW Corbetti project in the central Oromia region, estimated to cost to about $4 billion, is to be constructed in two phase within a period of eight to 10 years and is expected to one of Africa’s largest geothermal facilities on completion.
Ethiopian Electric Power Corporation (EEPCo) and Corbetti Geothermal Company, owned by Reykjavik Geothermal Ltd of Iceland, have signed a 25-year power purchase agreement for the first 500 MW.
EEPCo chief executive officer Azeb Asnake said Ethiopia is willing to connect power transmission lines to neighbouring countries to create a market in the region for the trade in electricity.
He said the geothermal generation will be carried out by Corbetti in southern Ethiopia. The $4 billion Corbetti geothermal project has 25 per cent equity financing and 75 per cent debt financing. Read more from The East African »
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