Corbetti Geothermal project’s first phase is scheduled to start generating 20 megawatts by the coming month. This is out of the entire capacity the project would generate, 500 megawatts.

The project is estimated to cost around 4 billion USD. The project was financed by fund from Reykjavik Geothermal, an Iceland based company.

Ethiopian Electric Power (EEP) signed a framework agreement with Reykjavik back in October 2013. The agreement was facilitated by Power Africa Initiative, an initiative which works on increasing the power generation of the continent through Independent Power Producers.

Other than this, the initiative is currently supervising a bidding process undertaken by EEP for a Methara Solar project, currently at the financial evaluation phase.

Source: Fortune