In one go, Ethiopia has managed to secure investment worth $4.4bn in its geothermal electricity sector. This will bring 500MW of renewable energy to the rapidly-developing country. In contrast, our current geothermal installed capacity as per the article is approximately 700MW. I have a reason to suspect that investments have slowed down considerably, especially in manufacturing and energy sector, due to the wanton corruption. Energy officials must be demanding kickbacks before giving projects go-ahead if rumors are to be believed. This is so wrong on many levels!!! This government is sick and if you ask Africans who have traveled abroad and experienced scorn and subtle racism from other races because of being perceived as inferior bonobos as @FieldMarshal CouchP likes to insult them, one would want Mama Africa to get its house in order. We need a strong leader with a zeal for fighting corruption. Unfortunately, we have one-Kivutha Kibwana, but he is unlikely to win. Why? Because Kenyans are easily excited and influenced by cheap political theatrics at the expense of viable proposals.:mad::mad::mad::mad::mad::mad:
Reykjavik Geothermal, a power developer backed by hedge fund billionaire Paul Tudor Jones II, is about to kick off a $4.4 billion project to bring volcanic energy to Ethiopia.
Tapping long-built Icelandic expertise in channeling volcanic power, the developer is preparing to start exploration drilling in September for two 500-megawatt plants in Corbetti and Tulu Moye, south of the capital Addis Ababa. At full-scale, each project would become the largest independent power producer in Africa, according to RG.
The Reykjavik-based company’s exploration teams have picked spots to drill where they can see steam rising from the ground. “All the results from the surface exploration work indicate that we are developing projects in a huge caldera, huge active volcanoes which can sustain at least 1,000 megawatts or more,” Gunnar Orn Gunnarsson, RG’s chief operating officer, said in an interview in Reykjavik.
The projects would become a vital cog in Ethiopia’s drive to become a middle-income country by 2025. Currently, its installed electricity capacity of 4,200 megawatts only provides power for 40% of its 105 million people. Neighboring Kenya already has 685 megawatts of installed geothermal capacity, providing almost a third of its energy.
