In May 2019 Bloomberg reported that Reykjavik Geothermal, backed by hedge-fund billionaire Paul Tudor Jones II, was preparing a roughly $4.4 billion volcanic energy project meant to deliver power from Ethiopia’s Rift heat.
Geothermal pitches promised baseload electricity beside hydropower that failed in dry years, but mega-project timelines in Ethiopia often stretch when FX, land, and grid links slip.
Private geothermal money sat in the same season as AfDB grants for hydro IPPs and public rationing, which made the $4.4 billion headline a useful contrast between brochure scale and blackout reality.
Kept as energy and FDI archive, the Bloomberg geothermal plan is a dated marker of private volcanic-power ambition.
Sources: Bloomberg