Government of Ethiopia approves PPAs with private geothermal developers
The government of Ethiopia has approved the power purchase agreement signed with the private developers of the geothermal project at Corbetti and Tulu Moye.
In a meeting of the Council of Ministers, the government of Ethiopia approved the power purchase agreement signed with Corbetti Geothermal, the development company developing the Corbetti geothermal power project in the country.
The Power Purchase agreement for the fist time engages the Ethiopian electric power and Ethiopian engineering authority on one side, and the Corbetti and Tulu Moye companies on the other side in a public private contract in which the Ethiopian Power company provides guarantee and reliability in offtaking the electricity.
The conclusion of the Power Purchase Agreement with Corbetti comes after many years work from the Government to create effective legislation such as PPP, Geothermal & Energy Proclamations to support foreign direct investment and private sector participation for investment and technology transfer in Ethiopia. Ministry of Water, Irrigation and Energy’s EEP, EEA on one hand & Corbetti and Tulu Moye companies on the other will develop total of 300 MW Geothermal Power as Public Private Partnership. The geothermal sector and skills in Ethiopia will tap in to this green, clean and renewable energy source to increase energy capacity, security and reliability of Ethiopia. Geothermal provides great baseline constant output power to support our industrialization and continued economic growth.
Source: Prime Minister Dr. Abiy Ahmed Facebook post