Kenya:

KenGen Investing Heavily in Geothermal (Capital FM Kenya)

The Kenya Electricity Generating Company (KenGen) is planning to use asset backed securities to raise over Sh2.4 trillion through a 20-year bond in order to finance its ambitious geothermal expansion plans.

KenGen Managing Director Eddy Njoroge said that the utility will need an estimated Sh437.5 billion in the next five years in order to deliver adequate power in the face of rapidly growing demand.

“We plan to use the steam – already drilled – as collateral to raise additional affordable capital from the market,” he revealed.

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