News & Updates

othermal energy in developing countries, and Iceland will effectively become the Bank's key partner in this field.

In Corbetti, Southern Ethiopia, RG has for the last year prepared the development of one of the world’s largest geothermal resources. This massive resource is among the world’s largest geothermal sites. RG has acquired geothermal exploration licenses covering an area of more than 6,500 km2.

Mr. Kofi Annan, the former Secretary-General of the UN and co-recipient of the 2001 Nobel Peace Prize, recently visited Iceland. Mr. Kofi Annan was particularly interested in learning about Icelandic geothermal utilization, thus he toured the Hellisheidi Power Plant with the President of Iceland, Mr. Ólafur Ragnar Grímsson.

A ten-day geothermal exploration in Rabaul, East New Britain by experts from Iceland, has confirmed that the province, which is famous for its active volcanoes, does have a lot of potential in developing geothermal energy as a renewable, reusable power source.

Following a thorough due diligence, 14 pension funds, which in recent months have examined the possible purchase of a stake in HS Energy, have decided to enter into an agreement with Magma Energy Sweden AB

Representatives of the African Development Bank (AfDB) and utility companies from Djibouti, Ethiopia, Kenya, Rwanda, and Uganda attended a seminar in Reykjavik January 13–16 to support the development of clean energy along East Africa´s Rift Valley. The seminar was...