Reykjavik Geothermal will undertake a geothermal energy project in Ethiopia. The company is about to start drilling in the localities of Corbetti and Tulu Moye.
The two power plants are planned to be located in these zones, each will have a capacity of 500 MW, which will make the company the leader in the geothermal energy sub-sector in the country.
"All results of exploration on the surface indicates that we develop projects in a large volcanic crater, with good activity that can allow us to produce 1000 MW of electricity or even more," said Gunnar Orn Gunnarsson, the executive director of Reykjavik Geothermal.
The first phase of these projects will allow the installation of 50 to 60 MW of capacity on each site. It will cost $175 million per site, which has already been mobilized by the RG and its partners.