Ethiopia, Reykjavik Geothermal (RG) Resolve Differences over Largest Geothermal Project in AfricaAugust 13, 2017 - The much delayed two billion dollars Ethiopian geothermal development project, Corbetti Geothermal, near Shashemene town is finally to take off the ground. Reykjavik Geothermal with its local partner Rift Valley Geothermal established Corbetti Geothermal Plc. RG split the 1000 MW geothermal development project into two phases–the 500MW Corbetti project and the 500MW Tulu Moye and Abaya project–each costing two billion dollars. Other many public and private investors from the US, the UK and other European countries are behind the Corbetti geothermal project. But later on, the geothermal sector was transferred to MoWIE that levies 30 percent tax on geothermal development.

Source: Ethiopian News August 13, 2017 10:18 UTC