In Corbetti, Southern Ethiopia, RG has for the last year prepared the development of one of the world’s largest geothermal resources. This massive resource is among the world’s largest geothermal sites. RG has acquired geothermal exploration licenses covering an area of more than 6,500 km2. Within that area, RG´s scientists have researched an area of 200 km2 in which temperatures up to 350°C have been identified, indicating a potential of 500 – 1,000 MWe. The Corbetti Geothermal Power Project is aimed to become a 300+ MWe geothermal flash plant with first commissioning of 100 MWe 2016, another 100 MWe 2017 and yet another 100 MWe 2018. RG in cooperation with its local partners has made significant progress on geothermal development in Corbetti. $4.5 million has been invested and the following milestones have been achieved:
- Geothermal exploration licenses secured;
- Detailed geological, geochemical and geophysical feasibility surveys completed with very positive results;
- A baseline study is finished for the Environmental and Social Impact Assessment and Environmental Management Plan;
- Environmental and Social Impact Assessment has been completed and accepted;
- Initiated Power Purchase Agreement negotiations with EEPCO;
- Investment Agreement with the Government initiated.