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Kenya: French US$80m loan for drilling rigs purchase

KenGen Olkaria II plant, Kenya (source: constructionkenya.com)
Alexander Richter 11 Apr 2011

The French government has offered a concessional loan of US$80m to Kenya, provided through the French Development Agency, to procure two geothermal drilling rigs and prepare a national power generation and transmission master plan

Already reported on earlier, “The French government has offered Kenya a concessional loan of EUR56 million/ US$80m (Sh6.7 billion) for the development of renewable energy.

The funds, provided through French Development Agency, will be used to procure two geothermal drilling rigs and prepare a national power generation and transmission master plan.

The government created the Geothermal Development Company as a special purpose company to speed up the development of this resource.

At least 2,000 MW over the next 10 years, are expected to come from geothermal sources.

This is to be achieved through purchasing six drilling rigs between 2010 and 2013.”

Source: Daily Nation