Ethiopia welcomes investment into geothermal power plant project

The Trust Fund Committee of the Clean Technology Fund is to finance the 50 MW Tulu Moyo geothermal power plant project in Ethiopia.

Extending a $10 million loan, CTF’s participation is welcomed by the African Development Bank.

Anthony Nyong, Director of Climate Change and Green Growth at the bank, commented: “This concessional resource will be instrumental in helping the country to diversify its energy mix by facilitating the deployment of renewable energy technologies while supporting Ethiopia in meeting the targets under its National Electrification Plan 2.0.”

The project entails the design, construction, commissioning and operation of a 50 MW geothermal power plant under a build, own, operate and transfer (BOOT) scheme, and marks the first phase of the Ethiopian government’s plan to build cumulative generation capacity of 150 MW by 2024.