Ethiopia: Shareholder agreement signed for Corbetti
- 01 Feb 2018
| 2 minute read
InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), announced on 18 January that a shareholders’ agreement has been signed with Berkeley Energy for the 520MW Corbetti geothermal project. The agreement doubles InfraCo’s equity commitment to the project to $30m; $25m equity finance and $5m in standby equity, representing around 20% of the funding required to begin the drilling of up to six exploration wells this year and building a 10-20MW pilot plant in 2019.
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