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Corbetti Power agrees tariff with Ethiopian government

Image Credit: USAID

The Ethiopian government has reached an agreement to buy electricity from the Corbetti Geothermal Power plant which is backed by Berkeley Energy’s $200 million Africa Renewable Energy Fund or AREF. The state agreed to pay 7.53 US cents per kilowatt hour in an accord that coincided with President Obama’s visit to the country. According to Edward Njoroge, Berkeley Energy’s Chairman, the tariff “is actually tight for us, but we think we can do it.” Comparable costs for geothermally generated electricity in neighboring Kenya range between 8.5 US cents and 9 US Cents per kilowatt hour.

Read more at Bloomberg…

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