Thursday, October 3, 2013

The U.S. and Iceland partner to bring geothermal energy to Africa

Photo: Reykjavík Geothermal

We were delighted to learn that the U.S.-Icelandic company Reykjavik Geothermal has sealed a deal to build the Corbetti Geothermal Plant in Ethiopia. The Corbetti geothermal plant will be a 1,000 MW plant to be built in two stages. When completed it is expected to be the largest geothermal facility in all of Africa, and represents an investment of $4 billion over an 8-10 year construction period. We are very proud to note this excellent example of what American-Icelandic partnerships in both the private sector and in government can accomplish in bringing economic development to Africa. The United States Agency for International Development and other U.S. government agencies played a critical role in putting this complex project together. We look forward to watching the development of this exciting
new venture in Ethiopia.