Corbetti Geothermal PLC (CGPLC) announced that it has been awarded a two-year time extension under its Power Purchase Agreement with Ethiopia Electric Power (EEP). This time extension will allow CGPLC to proceed with its exploration drilling program on the Corbetti resource in Ethiopia.
The Corbetti is one of the most highly prospective resources in the Ethiopian Rift Valley, comparable in size with the Olkaria resource in Kenya. Located in Oromia, 250 km south of Addis Ababa, the project is being developed by Corbetti Geothermal with the support of principal project participants Reykjavik Geothermal, the African Renewable Energy Fund, and Private Infrastructure Development Group (PIDG) company, InfraCo Africa.