Djibouti’s Lake Assal project secures funding. Zambia’s first well is underway and results are expected by year’s end.
Djibouti: AfDB, Government Agree on Lake Assal Funding
The African Development Bank (AfDB) and the Government of Djibouti signed the funding agreements for the Lake Assal geothermal exploration project this past Monday, August 26. The agreements total US $7.5 million. The financing includes a $5.3 million grant and a $0.4 million loan from AfDB’s African Development Fund, as well as a $1.8 million grant from the Sustainable Energy Fund for Africa. Djibouti’s Minister of Energy in charge of Natural Resources Ali Yacoub Mahamoud spoke at the signing ceremony; he commended AfDB for “breathing new life into this 20-year old project.” AfDB’s Regional Integration Director Alex Rugamba was quoted: “The exploitation of geothermal potential in the Lake Assal region will enable the Djiboutian population to access reliable, renewable and affordable source of energy.”
Lake Assal project’s exploration phase is expected to be followed by the competitive tendering of the development of an estimated 56 MW geothermal power plant to private power producers. World Bank is also contributing, and this will be the first exploration financed by WB in almost 20 years. Africanbrains.net; Afdb.org; Geoenergist.wordpress.com; Afdb.org
Zambia: Results from Kalahari’s Well Expected in December
Kalahari GeoEnergy Ltd., whose project to drill Zambia’s first well commenced on August 12, is looking to have results by the end of December. The company is looking at continuing with deeper drilling, pending results of the preliminary drilling, in May. A potential power plant at the site would start out with megawatt capacity in “the high teens,” Chief Executive Officer Peter Vivian-Neal told press. “You start with something really small and show people that it works and then you add incrementally,” he said. Bloomberg.com