Development of a geothermal field on the Ethiopian Rift

Background

In 2017, Meridiam partnered with Reykjavik Geothermal (RG) to co- develop the Tule Moye geothermal prospect located 100 km south-east of Addis Ababa. The Tulu Moye geothermal Project consists of the development, design, construction, financing, operation and maintenance of a 150MW geothermal power plant in 2 Phases.
In December 2017, the Tulu Moye Project Company signed a 25-year Power Purchase Agreement (PPA) and Implementation Agreement (IA) with Ethiopian Electric Power (EEP), the national utility, backed by the Government of Ethiopia (GoE) through the Ministry of Finance. These documents have been amended in March 2020 primarily to adjust the sizing and the allocation of responsibilities between EEP and the Government.
The Project is developed in the context of the Government of Ethiopia seeking to increase the country’s power generation capacity (4.5 GW) to about 17 GW by 2030, and to benefit from its abundant, yet untapped geothermal potential.

Stage:

Commercial close

ESG/SDG Key Facts

The Project has created over 300 local jobs and maintains a temporary water connection for nearby communities. The 15km road to the site has improved access and boosted local economic activity.

Learn more about the project:

Meridiam signs a Power Purchase Agreement (PPA) and Implementation Agreement (IA) with Ethiopian Electric Power