GDC seeking $750 million funding for Silali steamfield development
Lake Bogoria, Kenya (source: flickr/ Rainbirder, creative commons)
Alexander Richter
16 Apr 2012
Kenya's Geothermal Development Company is seeking funding of up to $750 million from sovereign funders to drill a 3,000 MW steam field at Silali, Kenya.
Kenya’s Geothermal Development Company is seeking $750 million from a group of eight major nations to drill a 3,000 MW steam field in 2013.
This was reported by Reuters last week, following a company release by GDC. The funding is sought for the development of a steam field at Silali, planned as a block from Lake Bogoria to Silali.
GDC plans to move from the Menengai steamfield and development to the Silali field by next year. The company has 16 geothermal sites in the geothermal region of the Rift Valley with an overall potential of about 7,000 MW.
The development of the first phase of 400 MW steamfield at Menengai is set to be completed by 2016 and IPPs are expected to bid for the installation of geothermal power plants.
There have been 19 international and Kenyan firms been short-listed, including KenGen and the Kenyan investment company, TransCentury. Four of those will be given concessions of 100 MW each.
KenGen is also seeking investors for the development of up to six geothermal power plants for a total of 585 MW.
Source: Reuters
