Webpages

Thursday, January 28, 2016

Kenya: Kengen Gets Loan for Construction of Olkaria 5 Geothermal Facility

KenGen of Kenya Secures JICA Loan for Geothermal-Power Plant (Bloomberg)

Kenya Electricity Generating Co. (KenGen), the country’s biggest power producer, said it will receive a $387.2 million loan from the Japan International Cooperation Agency to fund the construction of a geothermal power plant.

The loan agreement will be signed next month, when the company plans to tender for construction of the Olkaria 5 facility, about 70 kilometers (44 miles) northwest of the capital, Nairobi, Chief Executive Officer Albert Mugo said in an e-mailed response to questions Thursday. Construction is expected to begin in the third quarter and power from the plant will be added to the national grid by 2018, it said.

Read More.......