Early in the first quarter (February 2021), both the Tulu Moye and Corbetti geothermal projects have received their first payments for the drilling grant established by the Geothermal Risk Mitigation Facility (GRMF) for Eastern Africa.
RG is happy to announce that the Tulu Moye geothermal project has been approved for coverage from the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group. MIGA is a member of the World Bank Group that promotes cross-border investment in developing...
Since the approval of the Geothermal Proclamation Amendment by the Government of Ethiopia in May 2020, Reykjavik Geothermal is pleased to announce that the Tulu Moye Geothermal project has reached effectiveness!
An EPC tender was issued for the Tulu Moye Geothermal Project at the end of November 2020, around the same time of the spudding of the second geothermal exploration well in the concession area.
The second out of three exploration wells of the Tulu Moye Geothermal Project, GA2, was spudded on November 28, 2020. The drilling of the first exploration well of the project, GA1, was completed earlier in the month on November 7th. The project area is located in the...
A commitment of $1.5 million USD has been made to the Tulu Moye Geothermal Project by the US Development Finance Corporation. The investment will go towards the technical development of the Tulu Moye Geothermal Power Plant, in Ethiopia. The first phase of the project consists of a 50 MW geothermal power plant. With the completion of the following project phases, the project will ultimately generate 150 MW towards the baseload electricity needs of the Ethiopian Electricity Grid.