Marriott Secures Loan for Geothermal Drilling in Ethiopia

News Flash

  • UK-based Marriott Drilling Group (Marriott) has secured a seven-figure loan from NPIF – Mercia Debt Finance which the company will use as capital for their work on two geothermal projects in Ethiopia.
  • Marriott as the second drilling contractor for the Tulu Moye geothermal project.
  • Kenya’s state owned energy utility KenGen is the other contractor which has already completed drilling on their seventh well. Read more

Marriott has invested on two new drilling rigs that are now already being shipped to Ethiopia. The projects in Tulu Moye and Hawassa will be Ethiopia’s first geothermal power stations. Funding from the loan will be used by Marriot as working capital for the ongoing operations which is expected to last for four years.

The Tulu Moye geothermal project with an estimated total capacity of 150 MW will be developed in two phases (Phase 1 – 50 MW and Phase 2 – 100 MW) with an investment of $800 million. The project is located in a site with an estimated geothermal energy capacity of over 1 GW.

Author: Bryan Groenendaal

1 Comment

  1. Girum wubishet on

    Green economy is the most important for developers and developing countries,it is humanitarian activity godhead it is interesting for Africans.

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