NAIROBI, Feb 9 (Reuters) - Africa-focused power firm
Globeleq, owned by British and Norwegian development finance
institutions, has awarded Japan's Toyota Tsusho a contract to
build a 35 megawatt (MW) geothermal power plant in Kenya, the
two companies said on Thursday.
The plant, to be based in Menengai in Nakuru County, will
add to Kenya's installed capacity of 3,321 MW, 90% of which is
from renewable sources, according to government statistics.
Construction of the project, valued at $108 million, is
expected to start in the first quarter of this year and go into
commercial operation in 2025, Globeleq and Toyota Tsusho said in
a joint statement.
The electricity will be sold to the country's sole power
distributor Kenya Power under a 25-year contract,
while the geothermal steam to run the plant will be supplied by
state-owned Geothermal Development Corporation for the same
period, they said.
Kenya Electricity Generating Company , 70%-owned by
the government, already produces 799 MW from its geothermal
power plants, while energy firm Ormat Technologies produces 152 MW.
Globeleq is 70% owned by Britain's British International
Investment and the rest is held by Norway's Norfund.
(Reporting by George Obulutsa; editing by Anait Miridzhanian
and Jason Neely)
george.obulutsa.thomsonreuters.com@reuters.net))
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.