Ethiopia struck its first independent power producer (IPP) project with the Corbetti geothermal plant. The 1 GW project will be built in two stages, each at 500 MW, and is expected to be the largest geothermal project in the continent.
Estimated cost will be around $4 billion taking between eight to 10 years for construction. Icelandic company Reykjavik Geothermal will build and operate the plant. The company expects the first 10 MW of power to be online by 2015 with an addition 100 MW in 2016. The first 500 MW phase will be completed in 2018.
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