Wednesday, June 1, 2016

Kenya: Government to Reimburse KenGen for Drilling Geothermal Wells

KenGen seeks Sh5.8bn refund from State for geothermal wells (Business Daily Africa)

KenGen managing director and chief executive Albert Mugo
Electricity producer KenGen is seeking a Sh5.8 billion refund from the government for financing the drilling of geothermal wells with a capacity of 280 megawatts fed to the grid in 2014.

KenGen said that it funded the development of the steam wells at Olkaria in Naivasha on behalf of the Ministry of Energy and Geothermal Development Company — the agency in charge of geothermal energy development.

Ministry of Energy officials said Wednesday that the government would settle the dues owed to KenGen. The government has a 70 per cent majority shareholding in the company.