The second out of three exploration wells of the Tulu Moye Geothermal Project, GA2, was spudded on November 28, 2020. The drilling of the first exploration well of the project, GA1, was completed earlier in the month on November 7th. The project area is located in the Oromia Region of Ethiopia.
The drilling of these wells marks the start of the development of a 150 MW geothermal power plant with an anticipated total investment of USD 800 million. The first phase is to be completed by 2023 with a 50 MW plant, then reaching 150 MW through the second project phase with an expected completion by 2025. Ultimately, the project will generate 150 MW towards the baseload electricity needs of the Ethiopian Electricity Grid.
The project is headed by the independent energy company Tulu Moye Geothermal Operations (TMGO), a shareholding company of the investment firm Meridiam SAS based in Paris, and Reykjavík Geothermal.
As always, we look forward to the results of the drilling and hope for a safe and successful campaign!
