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 anticipated total investment of USD 800 million. The first phase is to be completed by 2023 with a 50 MW plant, then reaching 150 MW through the second project phase with an expected completion by 2025. Ultimately, the Tulu Moye Geothermal Project will generate 150 MW towards the baseload electricity needs of the Ethiopian Electricity Grid.
The project is headed by the independent energy company Tulu Moye Geothermal Operations (TMGO), a shareholding company of the investment firm Meridiam SAS based in Paris, and Reykjavík Geothermal.
Discussions are still ongoing with the plan to finalize the decision by the end of September 2021.