The first phase of Corbetti Geothermal project is to start generating 20MW of electricity next month. The Geothermal project is located in Corbetti town of the Oromia Regional State.
Having a total electric generating capacity of 500MW, the project is estimated to cost around four billion dollars. The equity financing of the project is funded by Reykjavik Geothermal, an Iceland based company that mainly works on energy development projects.
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