Bloomberg: The $4.4 Billion Energy Plan for Ethiopia

RG was founded in Iceland by a proven team of experienced geothermal experts. RG management has been directly responsible for projects in over 30 countries

Bloomberg: The $4.4 Billion Energy Plan for Ethiopia

A recent article published by Bloomberg on May 27, 2019 highlights the exciting future prospects of Reykjavik Geothermal in Ethiopia in an interview with Gunnar Orn Gunnarsson, CEO of the company.

Reykjavik Geothermal, along with company shareholder Paul Tudor Jones II, a hedge fund billionaire, and other important shareholders like Ambata Capital Partners, the African Renewable Energy fund, InfraCo, Iceland Drilling Co., and Meridiam SAS are all collectively ready to see Ethiopia go up in steam, where a prospective 1000 MW of geothermal power or more is expected to lie beneath the surface. 

Exploration drilling in both Reykjavik Geothermal concessions, Corbetti and Tulu Moye, located south of the capital Addis Ababa, is planned for September, for two 500-megawatt plants. The projects will transform Ethiopia's economy and Reykjavik Geothermal expects "strong emerging market returns" from the projects, which will continue to improve as the projects gain scale.

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