Quantum Gears For Menengai (GDC)
The
Geothermal Development Company (GDC) Menengai Geothermal project in Nakuru County is getting very close to commencement. On 22 August 2018, the Business Development Director at Quantum Power Mr. David Carroll, paid a courtesy call on the Managing Director & CEO Eng. Johnson P. Ole Nchoe to brief him on the progress. The two companies; GDC and Quantum Power have already finalized Condition Precedents which essentially allows the Independent Power Producer (IPP) to start the Menengai Plant construction. The move allows Quantum Power to reach a financial close and move to the ground to commence construction.
In June this year, the African Development Bank Group (AFDB) approved a Loan of USD 29.5 million and a Clean Technology Fund (CTF) Concessional loan of USD 20 million for Quantum Power – Menengai Geothermal Project. The Quantum Power – Menengai Geothermal Project is a 35 MW Project which is part of the three 35 MW plants awarded on Build-Own-Operate Concessions by the Government.
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