REYKJAVÍK GEOTHERMAL IN AFRICA
Africa is home to some of the world’s most promising geothermal resources, and Reykjavík Geothermal (RG) is leading the way in harnessing this potential for sustainable development.
RG has been actively advancing geothermal projects in Ethiopia for over a decade. With projects now financed and in advanced stages of development, our Ethiopia portfolio has been restructured into a separate holding company, Reykjavík Geothermal SA. Through Reykjavík Geothermal SA (RGSA), we are driving transformative projects that deliver clean, reliable energy while fostering economic growth, benefiting the local communities.
Our work in Ethiopia is paving the way for a greener future. Currently, two of Africa’s largest Independent Power Projects (IPPs), the Corbetti Project and the Tulu Moye Project, are under construction. These initiatives display RGSA’s commitment to foster innovation, collaboration, and impactful energy solutions.
Why Africa for Geothermal Development?
Africa offers immense opportunities for geothermal energy development due to its abundant high-enthalpy geothermal resources, particularly along the East African Rift Valley. Ethiopia, with its steady GDP growth and growing population, is a prime location for advancing geothermal energy.
Key Advantages of Africa’s Geothermal Resources:
- High Resource Potential: Exceptional geothermal reservoirs with temperatures of 250–300°C.
- Economic Growth: Energy infrastructure to support expanding populations and rising industries.
- Global Partnerships: Collaborations with governments, local stakeholders, and international investors.
Corbetti Geothermal Project
The Corbetti Geothermal Project is a monumental development that underscores Ethiopia’s geothermal potential.
- High Resource Potential: High-grade geothermal resources with estimated temperatures of 250–300°C.
- Ideal Location: Situated in the Oromia region within the Main Ethiopia Rift, a geologically active area perfect for geothermal power generation.
- Collaboration: Strong partnerships with Ethiopian Electric Power and government support.
Tulu Moye Geothermal Project
Located within the volcanically active African Rift Valley, The Tulu Moye Geothermal Project is a flagship initiative for both Ethiopia and the green energy sector. This groundbreaking project is set to provide renewable energy for millions, reducing reliance on fossil fuels and enhancing energy security in the region.
- Capacity Potential: Estimated at 1,500–2,000 MW.
- Permits and Compliance: Fully licensed with all environmental, social, and governance requirements met.
- Partners: Collaborating with Ethiopian Electric Power under a government-backed agreement and financed in partnership with Meridiam, a global leader in infrastructure investment.
