US Backs Tulu Moye Geothermal Plant

Oct 17 , 2020


[ssba-buttons]

Tulu Moye Geothermal Power Plant Project has secured a new grant worth 1.6 million dollars from the United States government. The geothermal power project, which will generate 150MW of power once completed, will be the first independent power project to produce power at a commercial scale. Implemented through the US International Development Finance Corporation (DFC), the funding will support the detailed design work for the new power plant at an earlier stage in the project development process. This will enable the geothermal plant to deliver the first 50MW of electricity to the Ethiopian power grid. Following the technical development, the Corporation is expected to evaluate the need for additional financing for the implementation phase of the project. Tulu Moye Geothermal Operations Plc, jointly owned by Paris-based investment firm Meridian SAS and the Icelandic geothermal development company Reykjavik Geothermal, commenced the first phase of drilling a few months ago. Established three years ago, Tulu Moye Geothermal Operations, which is expected to generate a total of 150MW of energy by 2025, is partially funded by the Geothermal Risk Mitigation Facility for Eastern Africa and the United States Trade & Development Agency.


Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...