Addis Ababa — AN investment of US$1,55 million is set to accelerate the development of Ethiopia's largest independent power project. The United States (US) International Development Finance Corporation (DFC) has committed technical development to that value for the 50-megawatt (MW) Tulu Moye geothermal power plant. It is a major boost for Ethiopia, a country with substantial untapped geothermal resources that can provide significant baseload power. "This project will help Ethiopia to tap a critical resource for its economic growth." TM Geothermal Operations PLC (TMGO), a local company, is developing the Tulu Moye project, which is some 100 kilometers southeast of Addis Ababa.

Source: Ethiopian News October 16, 2020 01:30 UTC