U.S. developer preparing 330 MW geothermal development at Suswa, Kenya
U.S. geothermal company Cyrq Energy is working on plans for up to 330 MW of geothermal power development on a project site in Suswa, Kenya.
U.S. based Cyrq Energy has announced investment plans of up to $300 million (Sh30 billion) for the development of a 330 MW geothermal power pant in the area of Suswa in Narok County, Kenya, as reported by Business Daily Africa.
The company has sent an application for regulatory approval to the relevant agencies in Kenya, following feasibility studies showed sufficient resources for the project, so Nicholas Goodman, CEO of Cyrq Energy.
The company expects to to start with a 75 MW development within two years upon award of required permits. Further on the plan is to develop up to 330 MW in geothermal power generation capacity on the site.
“The first phase of the project will be funded through internal sources, a mix of equity and debt while long-term debt will be secured for execution of the other phases of the project.
Cyrq owns and operates six geothermal plants (in the United States) and is extremely experienced in the development of these types of projects,” he said.
Mr Goodman said its technical team and independent industry experts had assessed the available geothermal resource with a drilling programme, preliminary design and installation of the power plant planned ahead of commencement of the project. “These projects are typically constructed over a period of three to four years, after which they start selling electricity to the utility (in this case Kenya Power) under a long-term power purchase agreement, which extends for 25 years,” he said.
Other geothermal plants under development are located at Olkaria, Mt Longonot, Menengai Crater-all in Nakuru and Silale in Baringo county.
Source: Business Daily