The United States of America, through its International Development Finance Corporation (DFC), has committed USD 1.55 million (equivalent to some 54 million birr) in technical development for the Tulu Moye Geothermal Power Plant Project in Ethiopia.
The Ethiopian government signed the first ever power purchasing agreement (PPA) that would enable it to buy electric power from two private energy firms that would generate 1,000 MW of electric power using geothermal energy in the Ethiopian rift system.
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.
Ethiopia’s experimentation with developmental state model has been under the spotlight for more than a decade now. Over the years, debates have moved from delivering the needed development outcomes to that of sustainability; especially in terms of financing.