Ethiopian Energy^Power Business Portal

(Fasika Tadese/Addisfortune, 18 March 2018)

The plant is expected to generate 75MW of energy from eight wells.

The overdue expansion of the Aluto-Langano Geothermal Plant is going to get a fresh start following the recently announced tender by the Ethiopian Electric Power (EEP) to hire a contractor for the project and procure rigs to drill the wells.

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Verdant hills, Kenya, stretch into the distance at Hell’s Gate National Park, where zebras, buffalos, antelopes, baboons and other wildlife roam an idyllic landscape of forests, gorges and grassy volcanoes near the shores of Lake Naivasha. Snaking over the same landscape are pipes. Miles and miles of pipes — some high enough off the ground that trucks can pass underneath and giraffes won’t hit their heads — carry steam from beneath this volcanic valley to big power plants inside the park.The valley’s animal herders have long known the unusual properties of the ground under their feet. On chilly days, they warmed themselves near vents that emit plumes of hot steam. Now, Kenya is increasingly harnessing that steam to turn generators that can allow it to expand electrical service and power its rapidly growing economy.

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(Bloomberg, Feb 2018)

U.S. private equity and hedge funds are backing an effort by Ethiopia to turn itself into an exporter of electricity to the region, channeling at least $4 billion into geothermal projects across the nation.G

The Ethiopian government has signed 25-year power purchase agreements with Reykjavik Geothermal Ltd., a developer led by Michael Philipp, the former head of Europe, Middle East and Africa for Credit Suisse Group AG. The company is backed by by billionaire hedge fund manager Paul Tudor Jones and Ambata Capital Partners, an investment firm run by Philipp.

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