Addis Ababa
TM Geothermal Operations Plc (TMGO), is wholly owned by TM SAS, a Paris registered company, which in turn is owned by the Shareholders Reykjavik Geothermal Ltd (RG), an Icelandic based Geothermal developing company, and Meridiam, a French based global investor and asset managing company, for the development of a geothermal power project in the area of Tulu Moye in Ethiopia, which has signed a Power Purchase Agreement and Implementation Agreement with EEP and the Government of Ethiopia for the project in December 2017.
Tulu Moye is located approximately 120 km south-east from Addis Ababa, relatively close to major markets for electricity. The intention is to develop a 520 MW geothermal power plant over four phases, with this first phase being a 50 MW Plant. Overall the development program is 7 year 9 months in duration with Phase 2 being for an additional 100 MW, Phase 3 being 100 MW and Phase 4 being 270 MW (the “Project”).