Development of a geothermal field on the Ethiopian Rift

Background

Tulu Moye has an up-to-date E&S Risk Assessment as well as the relevant required policies and frameworks to deal with ESG matters arising from all aspects of the Project (civil works, drilling and plant construction). All management plans are prepared in compliance with IFC Performance Standards.
The Project maintains good relations with the local community and the broader Oromia regional authorities. The Project has created more than 300 employment opportunities for locals during civil works and geothermal drilling phases. The $900k, 2020-2023 community investment plan focuses on: (i) supply of potable water, (ii) access to electricity, and (iii) jobs through SME creation and growth. The SME support scheme and training has already commenced. Vocational and technical training scholarships have been awarded and solar energy supply has been installed in the community health centre, alongside a newly constructed office for one of the local communes. A temporary water connection was built to nearby communities. The 15km road to site has improved access, reducing journey times and boosting local economic activity is an indirect benefit.

Stage:

Commercial close

ESG/SDG Key Facts

Tulu Moye has an up-to-date E&S Risk Assessment as well as the relevant required policies and frameworks to deal with ESG matters arising from all aspects of the Project (civil works, drilling and plant construction). All management plans are prepared in compliance with IFC Performance Standards.

The Project maintains good relations with the local community and the broader Oromia regional authorities. The Project has created more than 300 employment opportunities for locals during civil works and geothermal drilling phases. The $900k, 2020-2023 community investment plan focuses on: (i) supply of potable water, (ii) access to electricity, and (iii) jobs through SME creation and growth. The SME support scheme and training has already commenced. Vocational and technical training  scholarships have been awarded and solar energy supply has been installed in the community health centre, alongside a newly constructed office for one of the local communes. A temporary water connection was built to nearby communities. The 15km road to site has improved access, reducing journey times and boosting local economic activity is an indirect benefit.

(1) Source: Ethiopian’s Growth and Transformation Plan II,

https://ethiopia.un.org/en/15231-growth-and-transformationplan-ii

Learn more about the project:

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