{"id":8651,"date":"2014-06-02T17:10:52","date_gmt":"2014-06-02T21:10:52","guid":{"rendered":"http:\/\/www.zegabi.com\/articles\/?p=8651"},"modified":"2014-06-02T17:10:52","modified_gmt":"2014-06-02T21:10:52","slug":"world-bank-approves-funding-for-geothermal-project-in-ethiopia","status":"publish","type":"post","link":"http:\/\/www.zegabi.com\/articles\/8651","title":{"rendered":"World Bank approves funding for geothermal project in Ethiopia"},"content":{"rendered":"

\"\"<\/a>The Executive Directors of the World Bank have approved a grant of over $200 million to support the Ethiopian government’s Geothermal Sector Development Project.<\/p>\n

Reports indicate that $178.5 million came from the bank’s International Development Association, while $24.5 million came from its Scaling-up Renewable Energy Trust Fund.<\/p>\n

The grant will reportedly be used to develop two potential geothermal sites at Aluto and Alalobad in Afar State.<\/p>\n

The Ethiopian government has set out on an ambitious plan to develop alternative sources of power to support the nation’s rapidly growing economy. Work has reportedly already commenced on a wind farm and a mega-hydropower project.<\/p>\n

The World Bank has announced that it will support developing nations switch to renewable sources of energy. The bank has reportedly already invested more than $1 billion in renewable energy projects in Ethiopia in the past few years.<\/p>\n

In a related development, following an agreement worth about $8 million with the African Union (AU) last week, Iceland’s Reykjavik Geothermal is set to begin drilling wells at the Corbetti Geothermal Power Project site.<\/p>\n

The two-phase project, which will be the largest geothermal facility in Africa upon its completion, is expected to last between 5-8 years and will generate a total of 1,000MW.<\/p>\n

Reports indicate that preliminary work has commenced on more than five other possible geothermal power generation sites.<\/p>\n

Meanwhile, several other countries in the East African Rift zone – including Tanzania, Kenya and Djibouti – have also expressed interest in investing geothermal power.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Executive Directors of the World Bank have approved a grant of over $200 million to support the Ethiopian government’s Geothermal Sector Development Project. Reports indicate that $178.5 million came from the bank’s International Development Association, while $24.5 million came…<\/span> Read more ›<\/a><\/span><\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[44,2872,409,1],"tags":[318,3049,3048,3051,3047,3050,3046],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"_links":{"self":[{"href":"http:\/\/www.zegabi.com\/articles\/wp-json\/wp\/v2\/posts\/8651"}],"collection":[{"href":"http:\/\/www.zegabi.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.zegabi.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.zegabi.com\/articles\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"http:\/\/www.zegabi.com\/articles\/wp-json\/wp\/v2\/comments?post=8651"}],"version-history":[{"count":0,"href":"http:\/\/www.zegabi.com\/articles\/wp-json\/wp\/v2\/posts\/8651\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.zegabi.com\/articles\/wp-json\/wp\/v2\/media?parent=8651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.zegabi.com\/articles\/wp-json\/wp\/v2\/categories?post=8651"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.zegabi.com\/articles\/wp-json\/wp\/v2\/tags?post=8651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}