Renewable Energy Magazine-General newsletter

Two Ethiopian Geothermal Projects Finalized

At a joint signing ceremony in Addis Ababa, Ethiopia, Tulu Moye Geothermal signed a 520 MW Power Purchase Agreement and Implementation Agreement (PPA/IA) with Ethiopian Electric Power (EEP) and the Government of Ethiopia (GoE) for the Tulu Moye area while at the same time Corbetti Geothermal signed a similar 520 MW PPA and IA with EEP and the GoE for the Corbetti area. The projects will be developed in phases, and each has a total budgeted cost of approximately $2.2 Billion. When fully developed, each project individually would be the largest independent power project (IPP) investment in Africa.

EIB and Yes Bank to Provide $400 million for India’s Renewable Energy Growth

Renewable energy power generation across India will receive a boost from a $400 million joint initiative backed by the European Investment Bank and India’s Yes Bank. Yes Bank will manage the new co-financing program for construction of solar power plants and wind farms across the country.

BP Investing $200 Million In Solar Company Lightsource

BP  is investing $200 million in solar energy company, Lightsource, over three years, for a 43 percent stake in the business.