Addis Ababa, October 15, 2020 (FBC) – U.S. International Development Finance Corporation (DFC) has committed 1.55 Million US Dollars in technical development for the Tulu Moye Geothermal Power Plant Project.
DFC Chief Executive Officer Adam Boehler said that the grant will enable project development accelerate the schedule to design the 50-megawatt geothermal power plant.
When completed, the project will be the country’s first Independent Power Project and one of the largest geothermal power plants in Ethiopia, DFC stated.
Tulu Moye Geothermal Power Plant Project which is situated at 100 kilometers southeast of Addis Ababa will help Ethiopia to tap its immense resource for its economic growth, said DFC Chief Executive Officer Adam Boehler.
“DFC will help to shape the design of the project by utilizing one of its new development technical assistance,” he added.
After development is completed, DFC would evaluate additional financing for implementation, it is indicated.