In his face book press release, Abiy Ahmed Ali (Phd), Prime Minister of Ethiopia, announced that his cabinet has discussed and approved the Power Purchase Agreement with CORBETTI geothermal.
The statement further reads,
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 300MW Geothermal Power as Public Private Partnership.The Geothermal sector and skills in Ethiopia to 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.
In the same session, the cabinet has approved the draft Ethiopia’s Digital Transformation Strategy, the draft digital transformation strategy and Ethiopia’s 2nd commercial code.