May 22, 2020 marked a monumental shift for the geothermal sector of Ethiopia. The cabinet of Ethiopia, known as the Council of Ministers, came into agreement to send the Geothermal Proclamation Amendment to the Federal Parliamentary Assembly of Ethiopia for review....
Reykjavík Geothermal’s Abaya and Tulu Moye concessions have up until now been covered by the same exploration license. The Abaya concession is located in the SNNPR (Southern Nations and Nationalities People’s Region) region, and Tulu Moye in the Oromia Region of Ethiopia. The work has now been completed to split this exploration license into separate licenses for each region.
The Tulu Moye Geothermal Project has been granted a $10 million concessional senior loan from the Clean Technology Fund. This loan will go towards the development of the first phase of the project – a 50 MW geothermal power plant. Ultimately, the project will generate 150 MW towards the baseload electricity needs of the Ethiopian Electricity Grid
Early February 2020, the Bolaalda project was approved by the Icelandic National Energy Authority (Orkustofnun) and sent to the steering committee of the National Plan for Land Protection and Energy Development (verndar- og orkunýtingaráætlun, rammaáæltun) – for assessment in terms of land protection or energy development.
March 4, 2020 marked the commencement of exploration drilling for the Tulu Moye Geothermal Project where three exploration wells will be drilled in the project area located in the Oromia Region, Ethiopia.
Reykjavík Geothermal’s team of geoscientists carried out MT (magnetotelluric) measurements of the Bolaalda area in Ölfus, Iceland, in late 2020. Tentative findings indicate a high temperature reservoir in Bolaalda that is located deeper than in the adjacent areas of Hengill and Hellisheiði.