A signing ceremony of two grants Agreements took place at the Ministry of Finance and Economic Cooperation (MoFEC) between Admasu Nebebe, Ethiopian State Minister of Finance and Economic Cooperation, Frederic Bontems, Ambassador of France to Ethiopia and Mr Ignace Monkam-Daverat, the French Agency for Development (AFD) Regional Manager in Addis Abeba, for a total of 18 million euros. The first agreement, a 10 million euros grant will be provided by AFD in contribution to Urban Development will be part of a program co-financed by the World Bank and the government of Ethiopia. The aim is to strengthen the capacity and performance of local urban governments. It will contribute to expand sustainable urban infrastructure and services, as well as to promote local economic development in cities across Ethiopia.
With the second agreement, 8 million euros grant will be provided in contribution to the Tendaho Geothermal Development Project. It is funded by the European Union, through the European Union Africa Infrastructure Trust Fund (EU-AITF). This investment grant constitutes an additional funding to this project, which already benefited from a 9 million euros concessional loan from AFD and a total of 7,5 million euros from previous EU-AITF grants. The financing will enable to complete the drilling activities planned as part of the geothermal exploration and development effort in the Afar region.
(theethiopianherald/BETELHEM BEDLU, 25 April 2018)
Ethiopian Energy Authority said that it has been tirelessly working to utilize country’s energy potentials whilst maximizing the involvement of potential local and foreign investors in the sector. Geothermal Resource Development Director with the Authority Tesfaye Kassa told The Ethiopian Herald that consolidated efforts are underway to lure investors with the desirable capital, technology and expertise in the geothermal development.
Investors could maximize their profitability in furthering their engagement in geothermal sector that enable them to produce electricity without interruptions and harm in the environment, the Director recommended.
(BHENOK TIBEBU/The Ethiopian Herald, 24 March 2018)
After 18 months of researches and exploration with partners, Ethiopian Geological Survey has identified 23 geothermal energy potential areas in the Ethiopian Rift Valley Zone, it dislosed. Tamiru Mersha, Communication Affairs Director at the Ethiopian Geological Survey, told The Ethiopian Herald that a potential of over 10,000 Mega Wats (MW) geothermal energy was discovered in that area.
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.