In May 2019 New Business Ethiopia reported that Reykjavik Geothermal was preparing to begin exploration drilling in Ethiopia as part of the country’s push to develop geothermal power.
Icelandic and other developers had long eyed the Rift Valley’s heat resource as a way to diversify away from drought-sensitive hydropower.
Exploration drilling is only a first step toward power purchase deals, but it marks real capital risk on Ethiopian ground.
Kept as energy and FDI archive, the Reykjavik Geothermal note dates one 2019 geothermal exploration milestone.
Sources: New Business Ethiopia