Reykjavik Geothermal and the African Union signed a grant contract for an amount of up to $8 million as part of the GRMF for the drilling of two wells of the Corbetti geothermal power project in Ethiopia at an international donor meeting in Reykjavik, Iceland.
Reykjavik Geothermal, the Icelandic power-plant builder, plans to begin drilling in Ethiopia by July as part of a $2 billion project to develop the renewable energy source, Chief Operating Officer Gunnar Orn Gunnarsson said.
Reykjavik Geothermal, whose Icelandic geothermal expertise is backed by U.S. investors, signed a deal with Ethiopia on Wednesday to construct a 1,000 MW geothermal power plant, Africa’s largest, in the volcanically active Rift Valley.
ADDIS ABABA: Ethiopia signed a US$4 billion deal Wednesday with American-Icelandic company Reykjavik Geothermal to develop a 1000-megawatt geothermal farm, officials said. When completed, the project to provide energy for both local consumption and export will be the...
Minister H.E. Dr. Michael Debretsion were both in attendance today to announce the first independent power project in Ethiopia’s history. The 1000MW Corbetti geothermal plant will be built in two 500MW stages and is expected to be the largest geothermal facility in of Africa, at a cost estimated at $4 billion over an 8-10 year construction period. Reykjavik Geothermal, a US-Icelandic private developer, will build and operate the power plant, located at Corbetti Caldera, considered a top geothermal resource by the team of Icelandic and Ethiopian geoscientists that have investigated the region.
Reykjavik Geothermal, the Icelandic company that’s helped build power plants in more than 30 countries, agreed to develop as much as 1,000 megawatts of projects in Ethiopia over the next 10 years.