DJIBOUTI, July 12 (Reuters) – Djibouti is developing one of its three
major geothermal sites in the northern Lac Assal region to produce
power after securing $50 million in funding from the World Bank and
other financiers.
major geothermal sites in the northern Lac Assal region to produce
power after securing $50 million in funding from the World Bank and
other financiers.
The Horn of African nation now has installed capacity of about
120 megawatts (MW) and the new plant aims to add 50-100 MW when
completed.
120 megawatts (MW) and the new plant aims to add 50-100 MW when
completed.
Djama Ali Guelleh, director general of state-run Electricity of
Djibouti, said at a ceremony on Wednesday to launch the project that it
was going ahead after two years of studies and surveys conducted with
Iceland Drilling Company.
Djibouti, said at a ceremony on Wednesday to launch the project that it
was going ahead after two years of studies and surveys conducted with
Iceland Drilling Company.
He said the plant would help lower electricity prices and boost
business, in a nation which has been building free trade zones and port
facilities in its bid become an international hub for shipping and
commerce.
business, in a nation which has been building free trade zones and port
facilities in its bid become an international hub for shipping and
commerce.
Djibouti, which lies at the southern entrance to the Red Sea on
a major international shipping route, launched a new trade zone last
week covering 48 square kms.
a major international shipping route, launched a new trade zone last
week covering 48 square kms.
Djibouti, which has a population of 876,000, hosts Chinese,
U.S. and French naval bases. It handles roughly 95 percent of the goods
imported by Ethiopia, its land-locked neighbour with 99 million people.
U.S. and French naval bases. It handles roughly 95 percent of the goods
imported by Ethiopia, its land-locked neighbour with 99 million people.
culled: by Elias Biryabarema for Nasdaq
