The newly approved bill on geothermal resources exempts royalty payments for companies engaged in thermal resource development and exploration in the country. Last week, Parliament, which was dissolved on July, 8, 2016, was summoned for an urgent session and unanimously approved a number of bills, including the “Geothermal Resources Development Proclamation 2016”.
The Ethiopian Electric Power is going to sign contract agreements with independent power producers for the construction of geothermal power plants in Corbetti and Tulu Moye localities in the Oromia Regional State.
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(Adapted from thinkgeoenergy, 2017)
IFC is providing $20 million in equity funding to the Africa Renewable Energy Fund (AREF) managed by Berkeley Energy, replacing an investor that stepped out. AREF is invested in the Corbetti geothermal project in Ethiopia.
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