Friday, September 30, 2016

Kenya: Geothermal Development Company has a Profitable Year

Geothermal Development's Turn to Profit Tilts Energy Mix (

The Geothermal Development Company (GDC) broke the loss making streak to post Sh1.6 billion net profit in the full year ending June 2015 after inking a deal to sell steam from its Olkaria wells to the government.

The State-owned firm generated its first revenue of Sh2.5 billion in the period under review being earnings from sale of underground steam to the Kenya Electricity Generating (KenGen) Co to produce geothermal power.

GDC sold steam equivalent to 320 megawatts, helping tilt Kenya's energy mix in favour of geothermal power which is green and cheaper compared to thermal power.

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