Tulu Moye Geothermal
The first IPP project in Ethiopia brings together leading geothermal players from Africa and Iceland
Tapping Into Ethiopia’s Potential
High-enthalpy resources, a rising population, and an average GDP growth of 16% per year since 2005 make Ethiopia an ideal location for geothermal development.
The Tulu Moye project is breaking new ground for the people of Ethiopia and the green energy movement alike.
More About Tulu Moye Geothermal
Tulu Moye Geothermal has commenced construction. Phase one drilling is expected to finish before 2023, with a planned commercial operation date before 2027.
Fully Licensed with All Permits Secured
All approvals for the Tulu Moye project have been secured, with environmental, social, and governance work successfully completed.
Geothermal Surface Exploration Completed
Extensive geological surveying in the region indicates high-temperature geothermal resources, estimated at 1500–2000 MW each.
Strong Geothermal Development Partners
Reykjavik Geothermal is working closely with Ethiopian Electric Power, under an agreement backed by the Government of Ethiopia.
Fully Equity Financed
RG has partnered with Meridiam, a global asset management firm that develops, finances, and manages long-term public infrastructure projects.
Companies Involved
Tulu Moye Project Updates
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. The EPC will aid the development of a 150 MW geothermal power plant with an...
GRMF presents first payments for the drilling grants of both Tulu Moye and Corbetti geothermal projects
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. GRMF is an...
Tulu Moye geothermal project approved for MIGA coverage of the World Bank Group
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...
Tulu Moye Geothermal Project reaches Effectiveness from the Ethiopian Government
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! All of the project’s condition presidents have been...
EPC tender issued for Tulu Moye Geothermal Project
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 EPC will aid the development of a 150 MW geothermal power plant with...
Second well spudded in the Tulu Moye Geothermal Project
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...
Our Projects
We have 7 current projects—2 in construction and 5 in development. From Mexico to Ethiopia, we are actively developing some of the most massive geothermal sites on Earth.
