The MOU underscores the commitment of both parties to collaborate on the development and implementation of a pioneering geothermal project within Ethiopia. This strategic partnership brings together 4th Resource Corp.'s expertise in geothermal technology and Ethiopia lnvestment Holding's deep understanding of the local business landscape, creating a formidable force to drive sustainable energy production and economic growth in the region.
The agreement outlines a collaborative framework that will facilitate the exploration, development, and operation of geothermal resources in Ethiopia. By leveraging each other's strengths. 4th Resource Corp. and ElH's aim to establish a world-class geothermal project that not only contributes to the energy security of the nation but also sets a new standard for environmentally conscious and socially responsible energy production.
"This partnership reflects our dedication to harnessing clean and renewable energy sources to power a sustainable future." stated Phil Harms. CEO of 4th Resource Corp. "Ethiopia boasts immense geothermal potential, and with the combined efforts of 4th Resource Corp. and Ethiopia Investment Holdings, we are poised to unlock this potential and create a model for sustainable development."
The Harmokale geothermal project is set to contribute significantly to Ethiopia's energy mix reduce carbon emissions, and create job opportunities for local communities. Moreover, the partnership will prioritize capacity building. knowledge transfer, and technology sharing to empower Ethiopians with the skills and expertise needed to sustain the geothermal industry's growth in the long term.
The signing of this MOU exemplifies Ethiopia's continued leadership in developing a green, sustainable economy and sets a positive precedent for international collaboration in the renewable energy sector. Both 4th Resource Corp. and ElH are committed to expediting the project's development and achieving mutually beneficial outcomes for all stakeholders involved.
About 4th Resource Corp.:
4th Resource Corp. is a global leader in sustainable energy solutions, dedicated to developing and implementing innovative technologies that harness renewable resources to power a brighter future. With a strong focus on environmental stewardship and social responsibility. 4th
Resource Corp. is committed to driving positive change through its energy initiatives.
About Ethiopia Investment Holdings:
Ethiopia Investment Holdings ("EIH") is the strategic investment arm of the government of Ethiopia. ElH engages in key projects that promote the development of various industries in Ethiopia. EH's mandate is to commercialize state owned assets in its portfolio and engage world class investors to co-invest in projects that are commercially attractive and have significant impact on the Ethiopian economy. ElH owns and manages over 77 state owned enterprises across a number of sectors, which together represent a significant portion of Ethiopia's GDP.