Djibouti geothermal project receives extra AfDB funding
The African Development Bank has agreed additional funding of $3.22 million for a geothermal project in Djibouti.
The bank had already granted two other loans - $6.83 million in 2013 and $14.68 million in 2016 - for the project.
The new grant will allow the cleaning of well No.2 and make more tests for all Djibouti geothermal wells in order to collect reliable data, intended for a feasibility study, with an acceptable risk profile for commercial exploitation.
The project, located in the Lake Assal region, will be undertaken in three phases on a public-private partnership mode.
The first phase will be carried out to confirm the characteristics of the geothermal resource while the second phase 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.
