GDC seeks risk insurance for drilling at Suswa and Silali projects
GDC drilling site at the Menengai crater, Kenya (source: in2eastafrica.net)
Alexander Richter
23 Nov 2012
Kenyan Geothermal Development Corporation (GDC) is seeking for exploration risk coverage under an insurance scheme offered by German development bank KfW, that would cover up to 80% of the cost, should a well deliver less than 5 MW.
Kenya’s Geothermal Development Corporation (GDC) has applied for risk mitigation insurance with the German development bank KfW for the drilling at its projects at Suswa and Silali.
The arrangement sought by GDC, would help cover the risk of power from being less than 5 MW and cover the risk carried by financial lenders, refunding up to 80% of its cost.
Source: AllAfrica
