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Ethiopia : Tulu Moye Geothermal Project Gets US$ 1.55M Boost

The Tulu Moye geothermal project situated in the Oromia region in the south-west region of Ethiopia has received a US$ 1.55M boost from the American Development Finance Corporation (DFC). Taken into consideration in form of a grant, the funds will be used in the “technical development” of the project.

 
Addressing  at the provision, Adam Boehler, the DFC’s managing director said that the U.S. government’s development finance institution formed as a result of the Collaboration between Overseas Private Investment Corporation (OPIC) and the Development Credit Authority (DCA) will help shape the design of the clean energy project using one of its new development tools that are technical assistance.
 
He added saying that this project will support the East African country harness a resource that is essential for economic growth.
 
The implementation of the geothermal resource in question is held by Tulu Moye Geothermal Operations (TMGO). The latter is a company owned by a consortium formed by Meridiam, a French company specializing in the development, financing, and management of infrastructure projects, and Reykjavík Geothermal, a company specializing in geothermal energy, based in Iceland.
 
In connection with the first phase of this green energy project, TMGO has allocated the work to Kenya Electricity Generating Company (KenGen), one of the leading power companies in the East African region. KenGen will drill around ten production wells and two injection wells along with a collection and injection system for a water-cooled condensing steam power plant with a capacity of 50 MWe.
 
The electricity generated on the site will be inserted into the national grid via a 230 kV substation and a 230 kV transmission line from Koka to Wakena. The project is already subject to a Power Purchase Agreement (PPA) signed between TMGO and Ethiopian Electric Power (EEP), the state-owned company responsible for electricity.
Source : www.ogafnz.com
Posted On: 10/29/2020 12:00:00 AM

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