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The PPA is signed betwwen EEPCO and RG

The Ethiopian Electric Power Corporation (EEPCo) on Wednesday signed the first electric power purchasing agreement (PPA) with Reykjavik Geothermal, the Icelandic company, that will enable the latter to build a geothermal energy plant in Ethiopia with an installed generation capacity of 1000 MW. The agreement was signed by Gud Munder, CEO of Reykjavik Geothermal (RG), and Mihret Debebe, CEO of EEPCo, at the Sheraton Addis. Dr. Debretsion Gebremichael, deputy prime minster and board chairman of EEPCo, Sinkenesh Ejigu, minister of Mines, Tolossa Shagi, minister of State, and officials of the Ministry of Water and Energy attended the signing ceremony. RG plans to spend 4 billion dollars on the geothermal project deemed to be the largest in Africa.