Nicholas Goodman, President and CEO of Cyrq Energy, confirmed the reports and said that a feasibility study has already been carried out on the site and regulatory approval request has been sent to the competent authorities.
“The first phase of the project will be financed internally, with a mix of equity and debt, while long-term debt will be guaranteed for the other phases of the project,” said Nicholas Goodman.
The CEO further added that the company plans to start producing 75 MW within two years of the Kenyan authorities’ approval. The overall project is set to take an average of 3 to 4 years before completion after which electricity is first sold to the utility firm -Kenya Power under a long-term 25-year power purchase agreement.
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From the Global Geothermal News archives:
- Monday, October 29, 2018 - Kenya: Cyrq Energy Plans 330 MW Geothermal Power Plant in Suswa
