GDC Posts Profit Of Sh 1.4 Billion (News Release)
The Geothermal Development Company (GDC) posted Sh 2.1 billion profit before tax for the Financial Year 2017/18. This is a sharp increase from Sh 896 million posted the previous year.
The increase in profits is attributed to a boost in steam sales from our geothermal wells in Olkaria. The steam is sold to KenGen for electricity generation.
Speaking at the same function, Dr. Eng. Joseph Njoroge, the PS Ministry of Energy, exuded confidence that with increased income GDC will scale-up its steam exploration operations.
The PS noted that a huge chunk of Kenya’s geothermal potential is yet to be explored. Kenya, Eng. Njoroge noted, is only exploiting 600 MW of geothermal out of a potential of 10, 000 MW.
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