Friday, January 22, 2016

Kenya: KenGen Announces Financing Plans for 180 MW Olkaria VI Geothermal Power Plant

Kenya Electricity Generating to Invest USD650 Million in Olkaria VI Geothermal Power Plant (4 Traders)

Kenya Electricity Generating Co. (KenGen), a power generation, distribution, and transmission company, has agreed to invest USD 650 million in the construction and development of Olkaria VI geothermal power plant in Kenya. The total installed capacity of the power plant will be 180 MW.

The investment per MW will be USD 3.61 million. The company may partner with US, Chinese or Indian investors to finance and develop geothermal power plants, including the Olkaria VI power plant. The company will probably take a minority stake in Olkaria VI geothermal power plant. The construction of the power plant is expected to start in 2018.

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