Addis Abeba, March 09/2020 – Tulu Moye Geothermal Operations (TMGO), an independent energy company in Ethiopia, kicked off drilling on 04 March 2020 at its project site, Tulu Moye, Arsi Zone of Oromia Regional state, Iteya District.
“This drilling milestone will mark the beginning of the development of 150 MW geothermal power plant in two phases, with an anticipated total investment of US$ 800 million and is considered both by the government and project owners as a breakthrough event”, TMGO said. By February 2023 the project company is expected to generating 50 MW on the first phase of the geothermal power-plant; and by 2025, the project will generate 150 MW towards the Ethiopian Electricity Grid base-load needs.
TMGO was established in December 17, 2017. It subsequently signed a power purchasing agreement with Ethiopian Electric Power on December 19, 2017, making it one of the first independent power project in Ethiopia TMGO is a shareholding company of the Paris based investment firm Meridiam SAS and the Icelandic Geothermal Development Company Reykjavik Geothermal.
Tulu Moye Geothermal project brings the preeminent international geothermal scientists to Ethiopia, including from USA, Iceland & Kenya. In a statement sent to Addis Standard, TMGO said: “the vision of the Ethiopian Government leaders to develop their vast geothermal resources, by partnering with international scientific expertise and private sector financing, has become a reality. Tulu Moye Geothermal will continue to work in the coming years with the technical and financial experts in Ethiopia to develop a leading global geothermal industry.”
The exploration of three wells at Tulu Moye have been partially funded by Geothermal Risk Mitigation Facility for Eastern Africa, (GRM). AS