(Oct 10, 2013, (oilprice.com))--On 27 September Ethiopian Prime Minister Hailemariam Desalegn and Deputy Prime Minister Dr. Michael Debretsion announced the first independent power project in Ethiopia's history.
The $4 billion 1,000 megawatt Corbetti geothermal plant will be built in two 500 megawatt stages over 8-10 years and when it comes online, will be Africa’s largest geothermal facility. Reykjavik Geothermal, a U.S.-Icelandic private developer, will build and operate the power plant, located at Corbetti Caldera, considered a top geothermal resource by the team of Icelandic and Ethiopian geoscientists that have investigated the region.
The project dovetails nicely with Ethiopia's ambitious plans to become a carbon-neutral economy by 2025. Although more than 69 percent of the population of sub-Saharan Africa is without electricity, the continent has significant potential to develop clean geothermal, hydroelectric, wind, and solar energy resources. In Ethiopia, only about 20 percent of the population currently has access to electricity. Read more from oilprice.com »
The $4 billion 1,000 megawatt Corbetti geothermal plant will be built in two 500 megawatt stages over 8-10 years and when it comes online, will be Africa’s largest geothermal facility. Reykjavik Geothermal, a U.S.-Icelandic private developer, will build and operate the power plant, located at Corbetti Caldera, considered a top geothermal resource by the team of Icelandic and Ethiopian geoscientists that have investigated the region.
The project dovetails nicely with Ethiopia's ambitious plans to become a carbon-neutral economy by 2025. Although more than 69 percent of the population of sub-Saharan Africa is without electricity, the continent has significant potential to develop clean geothermal, hydroelectric, wind, and solar energy resources. In Ethiopia, only about 20 percent of the population currently has access to electricity. Read more from oilprice.com »
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