Cluff Geothermal and African Union sign GRMF surface studies grant contract

27 January 2016

On 21 January at the African Union Commission (AUC) Headquarters in Addis Ababa, Cluff Geothermal Ltd signed a grant contract with the AUC for financial support to conduct surface study works at their Fantale Geothermal Licence Area in Ethiopia. The grant contract was signed by the AUC Commissioner for Infrastructure and Energy, Dr. Elham Ibrahim and George Percy, Managing Director of Cluff Geothermal. The grant’s value totalled US$860,000 and will support the completion of pre-drilling surface study works at Cluff’s Fantale Geothermal Licence Area in Ethiopia.

Dr. Ibrahim congratulated Cluff Geothermal on securing this grant and their achievements in geothermal development, which will contribute to improving the quality of life for the people of Ethiopia.

The grant award was the result of a successful application to the Geothermal Risk Mitigation Facility (GRMF), a funding body supported by the UK Government’s Department for International Development (DFID), the German Government and the European Union. The GRMF reduces early exploration risk by providing up to 80% of funding for geothermal surface studies taking place within the East African Rift System.

Following the signing, Cluff Geothermal’s Managing Director, George Percy said: “Cluff Geothermal strongly support the work of the GRMF. It is facilitating the development of geothermal energy projects throughout the East African Rift System, a region with vast demands for baseload electricity. We welcome this grant signing and look forward to developing fully our geothermal project at Fantale, Ethiopia.”

Notes for Editors:

The press release from the GRMF can be found at:  http://www.au.int/en/pressreleases/19601/auc-signs-grant-contract-cluff-geothermal-ltd-fantale-prospect