Tuesday, April 5, 2016

Kenya: Akiira Geothermal to Drill Two More Wells Starting in June

Centum firm eyes more steam power wells in Sh1bn plan (Business Daily Africa)

Akiira Geothermal Ltd, a consortium developing geothermal power, plans to double its exploration wells by year-end at a cost of Sh1.4 billion as part of its plans to generate 70 megawatts (MW) of steam power within the next two years.

Drilling of two more wells will start in June in Akiira Valley in the Naivasha steam fields.

The project last month received a Sh138 million grant from the African Union Commission. The geothermal project is expected to inject 70 MW to the grid in the next 18 months, or end of next year. The electricity will cost Sh9.3 per unit (9.23 US cents).

Akiira Geothermal is owned by Centum Investments in conjunction with three other non-Kenyan entities that include Ram Energy of the United States, Marine power of the USA and Frontier Investment Management.

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