Reykjavík Geothermal's Abaya and Tulu Moye concessions have up until now been covered by the same exploration license. The Abaya concession is located in the SNNPR (Southern Nations and Nationalities People's Region) region, and Tulu Moye in the Oromia Region of Ethiopia. The work has now been completed to split this exploration license into separate licenses for each region.
Today, the Tulu Moye 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. The Abaya project will be developed as a separate entity.
The splitting of the license occurred in May 2020, and the Ethiopian Energy Authority (EEA) issued special geothermal exploration licenses for two areas situated alongside each other in the Abaya area, which is specifically located in the Wolayita zone of the SNNPR.