TM Geothermal Operations (TMGO)

Tulu Moye Geothermal Phase l - DFI Direct Loan

Industry
Power/Geothermal
Area of finance
Project & Infrastructure Finance
Country
Ethiopia

Deal Overview

Financing stage one (150MW) of the $2.2 billion 300MW Tulu Moye geothermal project in Ethiopia's eastern Rift ValleyStage one has a total project cost of $263 million and is being financed with an oversubscribed 18-year $193 million debt package provided by DFIs including the EIB, AfDB, FMO,...

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Financing stage one (150MW) of the $2.2 billion 300MW Tulu Moye geothermal project in Ethiopia's eastern Rift Valley

Stage one has a total project cost of $263 million and is being financed with an oversubscribed 18-year $193 million debt package provided by DFIs including the EIB, AfDB, FMO, DEG, and Proparco. Given the adolescent nature of Ethiopia’s renewable energy market, with the project marking the country’s first IPP, pricing is high at around 500bp.  

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Deal Volume
$ 193m
Financial Close
03 April 2020
Sources

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Tranches


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Projects

Tulu Moye Geothermal Phase l

Greenfield
Geothermal
Ethiopia
$ 263m