Press Release – AUC signs grant agreement with Reykjavik Geothermal

by | Dec 2, 2015 | Company News

Addis Ababa, Ethiopia, 30 November 2015: The African Union Commission (AUC), through its’ Department of Infrastructure and Energy, and Reykjavik Geothermal ehf signed a Grant Contract for financial support – totaling USD 1,314,000, to conduct surface study activities at the Reykjavík Geothermal ehf owned Tulu-Moye geothermal prospect located in Ethiopia. The Grant Contract was signed by the AUC Commissioner for Infrastructure and Energy, Dr. Elham M. A. Ibrahim, and Mr. Jón Örn Jónsson, on behalf of Reykjavik Geothermal ehf, at the AUC headquarter. 

The AUC Commissioner for Infrastructure and Energy Dr. Elham M. A. Ibrahim congratulated the Reykjavik Geothermal ehf for securing this Grant and their achievement in geothermal development, which will contribute to improving the quality of life of the people of Ethiopia.

GRMF is funded by the German Government, European Union and DFID and provides the following financial support in form of grants to surface studies as well as exploration drilling and testing programmes to beneficiaries from 11 eligible countries along the Eastern African rift who’s projects qualify in a 2-stage application process:

  • 20% of approved allowable costs for infrastructure required for eligible surface studies or eligible drilling programmes (e.g. access, water, power)
  • 80% of approved allowable costs of Surface studies 
  • 40% of approved allowed costs for the exploration drilling and testing programme (ex­cluding infrastructure costs)
  • up to 30% of the approved eligible costs of continuation activities or up to 30% of the developer’s share of the approved eligible costs incurred during the initial drilling and testing programme – whatever is lower.

For detailed information about the Geothermal Risk Mitigation Facility (GRMF) please visit the GRMF website: http://www.grmf-eastafrica.org/

For further information:
Directorate of Information and Communication | African Union Commission I E-mail: DIC@african-union.org I Website: www.au.int I Addis Ababa | Ethiopia

About the African Union
The African Union spearheads Africa’s development and integration in close collaboration with African Union Member States, the Regional Economic Communities and African citizens. AU Vision: to accelerate progress towards an integrated, prosperous and inclusive Africa, at peace with itself, playing a dynamic role in the continental and global arena, effectively driven by an accountable, efficient and responsive Commission. Learn more at: http://www.au.int/en/

Written by Reykjavik Geothermal

More From This Category

Abaya Geothermal Project qualified for Drilling Grant from GRMF

Abaya Geothermal Project qualified for Drilling Grant from GRMF

In December 2020, Reykjavík Geothermal (RG) submitted a direct application for the Abaya Drilling Programme in Ethiopia to the Geothermal Risk Mitigation Facility for Eastern Africa (GRMF). This was subsequent to the GRMF funding that was granted for the Abaya...

Abaya Geothermal Project qualified for Drilling Grant from GRMF

Green by Iceland

The Iceland Renewable Energy Cluster is a partner of Green by Iceland.  Green by Iceland is a platform for cooperation on climate issues and green solutions. The role of Green by Iceland is to fight climate change locally and globally and to...

Abaya Geothermal Project qualified for Drilling Grant from GRMF

BSI Audit of RG Business Management System

BSI carried out the annual audit of the Reykjavik Geothermal QHSE Business Management System on the 29-31 of October 2020. Assessment standards were ISO 14001: 2015, ISO 9001: 2015 and ISO 45001: 2018. Three opportunities for improvement were observed.

Abaya Geothermal Project qualified for Drilling Grant from GRMF

The Iceland Renewable Energy Cluster

The Iceland Geothermal Cluster was founded in 2010 to strengthen competitiveness, innovation and increase value creation within the Icelandic geothermal energy industry.