He wrote that Ambata Capital, founded by former Credit Suisse investment banker Michael Philipp, is taking “a significant” minority stake in geothermal developer Reykjavik Geothermal, declining to provide more details on the ownership stake or how much money it is forking out for that equity position.
Reykjavik Geothermal and Ambata Capital say they plan to jointly develop and operate utility scale geothermal power generation in emerging markets in the Middle East and Africa.
Update: Tulu Moye Geothermal Project EPC Tender
An EPC tender was issued for the Tulu Moye Geothermal Project at the end of November 2020. Technical bids have since then been received from 7 companies to conduct EPC in Tulu Moye.