TMGO (TM Geothermal Operations PLC) has signed a $100 million deal with Mitsubishi Corporation and SEPCOIII Electric Power Construction Co., Ltd. for the first phase of a 50W geothermal power project in the Arsi Iteya area in Ethiopia.

The geothermal power project is expected to be completed in two years.

Making use of Ethiopia's potential in geothermal energy will provide an additional power source for the country, Takele Uma, Ethiopia's Minister of Mines and Petroleum said regarding the signing of the deal.

"We are well on our way to utilizing our vast geothermal resources," he twitted.

Source (Including Image): Takele Uma Banti (Twitter and Facebook)