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The United States Trade and Development Agency (USTDA) granted USD 1.1 million to finance the Tulul Moye geothermal power plant feasibility study project.
Expected to be finished in less than a year, the study will measure the sustainability of the project.
The grants will help the company conduct the feasibility study for the first phase of the projects; 50MW of the total 520MW, at the Eastern Arsi Zone Iteya town Tulu Moye area.
Katrien Hinderdael, USTDA’s representative at East Africa and the Tulu Moye and Darrell Boyd, CEO of the project signed the agreement last week.
Troy Fitrell, during the signing the Charge d’ affairs of the US Embassy in Ethiopia, said the US will continue helping Ethiopia utilize its natural resources and achieve its own goals.
Also, Frehiwot Woldehanna (PhD), State Minister of Water, Irrigation, and Electricity, recognized the support from the US government as crucial to helping the most unutilized resource of the country.
Ethiopia is expecting to get 1,000MW energy generated for the Corbetti and Tuli Moye projects. It obtained USD four billion from private investors.