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.
