The firm said it is waiting forthe Kenyan Energy Regulatory Commission (ERC) to approve a contract with distributor Kenya Power. The agreement is expected to spell out the price of power generated from the Olkaria-based plant.
Akiira One is jointly owned by listed Centum and Frontier Investment Management, a Danish investment firm. Ram Energy, Inc. and Marine Power will construct the power plant. Ram Energy, Inc. said the form of financing where agencies such as OPIC pay for early and risky stages of development should attract other American firms to put up plants in the Rift Valley area.
Akiira One will add another 70 MW by December 2018, bringing the total to 140 MW over the next four years.
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