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.
(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.
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.
Ethiopia inks its first ever power purchase agreement with private companies in an attempt to triple the nation’s electricity generation capacity to 17,000MW by 2020. The pact will enable developers to start Africa’s largest geothermal projects with an investment capital of four billion dollars.