Multilateral energy fund Climate Investment Funds, through its Clean Technology Fund (CTF), has signed and approved a US$10 million concessional senior loan financing for the 50 MW first phase of the 150 MW Tulu Moye geothermal project that will be developed in the Eastern Rift Valley in Oromia, Ethiopia.
Phase I of the Tulu Moye geothermal project involves the design, construction, commissioning, and operation of a 50 MW geothermal power plant under a Build, Own, Operate and Transfer (BOOT) development scheme. The project will also include a sub-station and an 11 km transmission line.
The CTF funds will be taken from the Dedicated Private Sector Program III that is designed for risk-appropriate financing for high-impact, large-scale private sector projects in clean technologies.
Country updates
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April 08, 2020
150 MW Corbetti geothermal plant in Oromia region secures government PPA
Corbetti Geothermal and its sponsors – InfraCo Africa (a PIDG company), Berkeley Energy who manage the Africa Renewable Energy Fund, Iceland Drilling and Reykjavik Geothermal – have signed...
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December 31, 2019
ACWA Power, Ethiopian Electric Power sign PPAs for 250 solar projects
ACWA Power,a leading international developer and operator of power generation and water desalination projects signed two long-term power purchase agreements (PPA) with Ethiopia’s state-owne...
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September 20, 2019
Contract award for 250 MW solar PPP contract in Ethiopia
Saudi Arabia’s energy firm ACWA Power has been awarded USD 300 million worth solar contract to develop two photovoltaic plants with a combined capacity of 250 MW after its bid was approved by th...
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May 13, 2019
Ethiopia adds two more projects for Off Scaling Solar Round 2 tender
The Public-Private Partnerships Directorate General (PPP-DG) within the Ministry of Finance of the Government of Ethiopia has expanded the initially launched Request for Pre-Qualification (RFQ) f...
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May 09, 2019
Tulu Moye Geothermal Operations Plc seeks EPC contractor for the first phase of 520 MW geothermal project
A request for expressions of interest has been issued by Tulu Moye Geothermal Operations Plc for an engineering, procurement and construction (EPC) contractor for the 50 MW first phase of the 520 MW T...
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