Ethiopia: US supports geothermal energy in Ethiopia

press release

The United States continues to invest in Ethiopia's capacity to develop its energy sector. Today the US Trade and Development Agency has awarded a grant to TM Geothermal Operations Private Limited Company (TMGO)[1], an Ethiopian company, to coordinate a feasibility study to support the development of the first 50 megawatts of a planned 520 megawatt Tulu Moye geothermal project in the Main Ethiopian Rift.

The research will be carried out by American Delphos International, Ltd., which has expertise in supporting the development of the energy sector and financing its work in 35 countries.

"The United States is pleased to support this project, which will promote energy diversification and improve access to affordable and reliable electricity in Ethiopia," said Thomas R. Hardy, USTDA & # 39; s Director of Congressional and Public Affairs. "This study will also create opportunities for US companies in the growing geothermal sector in Ethiopia."

In December 2017, Ethiopian Electric Power signed implementation agreements and power purchase agreements that allowed the private sector to develop the geothermal projects Corbetti and Tulu Moye. These historic agreements will support 1,000 megawatts of geothermal power generation and more than $ 4 billion of private investment in Ethiopia.

Chief Executive Officer of TMGO, Darrell Boyd, added: "By enabling TMGO to develop technical, environmental, legal and financial workflows for the Tulu Moye geothermal project, the USTDA study is an essential part of the success. . "

Managing Director of Delphos International, Slav Gatchev, added: "Delphos and its leading US subcontractors look forward to delivering a financeable package to the beneficiary so that this important project can be continued quickly."

Chargé d & # 39; Affairs for the US embassy in Addis Ababa Troy Fitrell said: "The United States has a long history of working to support the economic development of Ethiopia, and while Ethiopia strives to develop light factories and other industries, few things will be so important to have the success of the country as a sufficient, reliable and affordable force. "He added:" This project brings together an American company and an Ethiopian company – an example of how private cooperation between our countries achieve common goals for mutual benefits. "

This project supports the goals of the Doing Business in Africa and Power Africa initiatives of the American government, which focus on promoting space for economic growth and investment opportunities in Africa.

Power Africa supports Ethiopian Electric Power in developing plans for generation, competitive procurement for IPP projects and a streamlined and transparent procurement process. In June, US Ambassador Michael Raynor and the Minister of Water, Irrigation and Electricity signed a new memorandum of understanding that renewed the US commitment to continue supporting the development of the energy sector in Ethiopia under Power Africa until the year 2023.

Power Africa, an initiative of the American government with the aim to double access to electricity throughout sub-Saharan Africa, has helped the Ethiopian government to promote these inaugural projects for Independent Power Producer. As an executive agency of Power Africa, USTDA maintains a robust energy portfolio that supports Power Africa goals and supports Ethiopia's objectives to increase access to electricity through projects led by the private sector.

[1] TMGO is owned by Meridiam, a leading manager of global infrastructure funds, and Reykjavik Geothermal, a specialized developer with a long-standing presence in Ethiopia.

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