East African Risk Mitigation Facility to announce new agreements next month
GDC drilling site at the Menengai crater, Kenya (source: in2eastafrica.net)
Alexander Richter
21 Feb 2014
The Geothermal Risk Mitigation Facility (GRMF), set up to encourage public and private investment into geothermal development in East Africa, will soon sign several new agreements, following five agreements over a total of $22 million cost share grants issued earlier this year.
The Geothermal Risk Mitigation Facility (GRMF), established by the African Union Commission, the German Federal Ministry for Economic Cooperation and the EU-Africa Infrastructure Trust Fund – through the German government-owned development bank KfW Entwicklungsbank, will soon issue new agreements.
The new agreements are expected to be signed with developers in Kenya and Ethiopia, as announced by the African Union’s infrastructure and energy commissioner, Elham Ibrahim.
He said that GRMF has already awarded five grants under the scheme for East Africa, which was set up to encourage public and private sector support for geothermal development.
The announcement came as part of a high level meeting of the Africa-EU Energy Partnership (AEEP) in Addis Ababa, Ethiopia earlier this month. “AEEP is one of eight partnerships under the ‘EU-Africa Joint Strategy’, which was established in 2007.”
Already $22 million have been awarded to five projects in Kenya and Ethiopia, but no details about upcoming agreements were provided.
The GRMF has about $62 million available for cost share grants.
Source: Out-Law
