Wednesday, October 21, 2015

Kenya: How KenGen is Raising Funds for Geothermal Development

KenGen looks for new ways to fund key projects (Daily Nation)

Kenya Electricity Generating Company (KenGen) is pursuing alternative sources of money to supplement funding from loans and equity for its key projects.

During the period to 2018, KenGen plans to spend Sh180.25 billion ($1.75 billion) to finance new projects, mostly geothermal, that will include setting up new power plants and rehabilitating the existing ones.

Last week, the company disclosed plans to raise funds through commercial drilling, consultancy services, the Olkaria geothermal spa, a proposed industrial park and establishment of a container freight station.