Ethiopian Energy^Power Business Portal

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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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 (thinkgeoenergy, Jan 2018)

InfraCo Africa, has signed a Shareholders Agreement with Berkeley Energy, committing US$30m of equity investment to the ground-breaking Corbetti Geothermal project, doubling its original commitment of US$15m.

 

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(thinkgeoenergy, Jan 2018), (devbusiness, Jan 2018)

The World Bank has issued a call for Expressions of Interest for Consultancy Services for Geothermal Sector Institutional Capacity Building Needs Assessment as part of the Ethiopia Geothermal Sector Development Project. The deadline is January 22, 2018.

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