AfDB approves additional funds for Djibouti geothermal project
The African Development Bank has approved an additional $3.22 million loan for the geothermal project at Lake Assal, in Djibouti. The financing will allow for work on well No.2 and additional tests for a feasibility study for commercial exploitation.
The new loan is in addition to the $6.83 million approved in June 2013 and $14.68 million in May 2018, bringing the bank's total contribution to $24.73 million.
Its objective is to explore the geothermal steam field of Lake Assal, located in the centre of the country. In a three-phase program, exploration of the field will first be carried out to confirm the characteristics of the geothermal resource; next will be the development of the geothermal field and the construction of a power plant with a capacity of 20MW; and finally the extension of the capacity of this plant to 50MW.
