The company has realised that raising a staggering $4.5-billion to finance power plants to generate an estimated 1200 MWe in the Olkaria field would be a tall order.
“KenGen plans to develop up to 560 MWe of geothermal power plants at the Olkaria field in phases of 140 MWe each through PPPs,” the company says.
KenGen says the partnerships it is seeking will take the form of joint ventures (where the partner would be the majority shareholder) or energy conversion agreements (where KenGen would provide steam to a build, own, operate and transfer contractor).
In both arrangements, the successful companies that would be selected through a competitive tendering process would be required to design, finance, supply, construct and operate the power plant for 10 to 20 years.
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