Dec 22 2010
KenGen, Kenya’s state owned utility, has been granted funds for the development of a 280 MW capacity geothermal plant. This loan has been bestowed by the European Investment Bank (EIB) and would also be utilized for providing the related infrastructure for the project.
According to the Minister of Finance in Kenya, Uhuru Kenyatta, the project would comprise steam field development, a substation, transmission lines and geothermal wells.
The Geothermal Development Company (GDC) had made a statement to the effect that it was seeking investors for developing a 400 MW portfolio last month, to enhance the renewable energy segment in the country. The GDC in a Call for Expressions of Interest document stated that it was looking out for investors having experience in developing around 30 MW capacity projects. The company had already secured multinational pledges taking the same route that KenGen had taken in the past.
The EIB had in the past had funded the expansion of KenGen’s Olkaria II geothermal plant by almost 35MW in the nation. This was one of the many projects in the €260 million development aid given towards developing renewable energy projects in the east African region.
Source: http://www.kengen.co.ke/