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Ethiopia signs Sh400 billion deal to build geothermal plants

By Reuters | Published Thu, December 21st 2017 at 00:00, Updated December 20th 2017 at 23:13 GMT +3

Power deal. Ethiopia has signed an agreement to build two geothermal power plants at a combined cost of $4 billion (Sh400 billion), to be run by the country’s first privately-owned utility.

The Corbetti and Tulu Moye plants will produce a combined 1,000 MW of power upon completion in eight years time in the volcanically-active Rift Valley south of the capital Addis Ababa.

Ethiopia is eager to meet rising energy demand from its industries as well as becoming the continent’s biggest exporter of energy.