An Icelandic power company named Reykjavik that has agreed to produce 1000 MW Geothermal power in Ethiopia is negotiating with the Ethiopian government on the conditions of power sell and related issues. The negotiation is started in Addis on May 1, 2014.
The negotiation is being held between professionals of Reykjavik and the Ethiopian Electric Power Service enterprise. Sources said that the negotiation covers power sell, Tariff, foreign currency and other related issues. Since the negotiation deals with various aspects it is expected to take longer time.
The construction on the power plant is expected to start on September, 2014. Reykjavik has signed an agreement with Prime Minister Hailemariam Desalegn to produce 1 000 MW geothermal power at a place named Korbete near Shashemene with 4 billion dollars investment. This agreement deals on the issue of selling power produced by the company to Ethiopia.
Since there haven’t been such kind of dealings on power production and sell in the country, the council of ministers has approved a bill on the matter last September. Reykjavik is attracted by the bill. Ethiopia has an important place in the President Barak Obama’s Power Africa initiative.
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