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Reykjavik Geothermal will begin drilling at the $2bn 500MW Corbetti geothermal power project by July, chief executive Gunnar Örn Gunnarsson told African Energy. The company, which is based in Iceland and owned by US investors, signed an agreement with the government to develop the project in October, and the facility is scheduled to begin operating by 2020. Reykjavik Geothermal expects to begin closing financing worth up to $80m this month, and to raise $500m from equity partners over the course of the project.