[ad_1]
Addis Ababa, October 15, 2020 – The United States, through the United States’ International Development Finance Corporation (DFC), has committed $ 1.55 million in technical development for the Tulu Moye Geothermal Power Plant Project in Ethiopia. This new grant will enable project development and accelerate the schedule for designing the 50-megawatt geothermal power plant, according to a statement from the US embassy in Addis Ababa.
When completed, the project will be the first independent power project to generate power on a commercial scale and one of the largest geothermal power plants in Ethiopia, a country with significant untapped geothermal resources that can provide significant base load.
The Ethiopian company TM Geothermal Operations PLC (TMGO) is developing the Tulu Moye project, which is located approximately 100 kilometers southeast of Addis Ababa. DFC’s technical development will provide financing of up to $ 1.55 million to support detailed design work for the new power plant earlier in the project development process, allowing the Tulu Moye geothermal plant to deliver the first 50 megawatts of electricity to Ethiopia’s power grid. faster. Upon completion of development, DFC will evaluate additional funding for the implementation phase.
TMGO began drilling on March 4, 2020 at its project site, Tulu Moye, in the Arsi area of Oromia Regional State, Iteya District.
“The technical development of DFC builds on this recent progress and long-term support from the US government for the nation’s energy sector, including from Power Africa, the US Treasury Agency,” it read. the notice. Dispatch / AS
[ad_2]
