Comoros secures funding for initial geothermal studies
Having secured funding for geothermal field studies, Comoros is now expecting work on developing its geothermal resources can start in the coming weeks.
Since the launch of the Geothermal Energy Initiative Comoros, launched by the President of the Union in 2013, the Government has since obtained the technical and financial support of the African Union, New Zealand and UNDP, to carry out surface exploration studies planned to end in June 2015 .
It is in this perspective that the Government obtained from the Commission of the African Union, through the GRMF (Geothermall Risk Mitigation Facility), the financing of these surface exploration studies amounting $ 844.680 out of the $1,444,680 USD goal.The remaining co-financing came from the Government of Comoros, New Zealand and UNDP in Comoros. The financing agreement between the Commission of the African Union and the Government of the Union of Comoros was signed on Thursday 14 May in Moroni.
Thus, a joint team of New Zealand and Comorian experts from the Geological Bureau of Comoros will thus perform all field studies in the coming weeks. The results will be announced in 2015, will define the points where exploratory drilling can be conducted which will be the second phase of the project; to determine the potential for real production, and the investment needed during the construction phase . The Government is currently implementing a strategy to mobilize technical and financial resources to ensure the establishment of a strong partnership around this project.