KenGen considers IPP/ JV approach to finance and develop Olkaria VI project
In an interview with Bloomberg, managers of Kenya Electricity Generating Co. says they consider an IPP/ joint venture and minority stake approach to secure sufficient funding and secure development of the 180 MW Olkaria VI project.
Bloomberg reports today on Kenya Electricity Generating Co., saying that the company considers a possible partnership with “U.S., Chinese or Indian investors to finance and develop geothermal plants, including a $650-million facility that will generate as much as 180 megawatts.”
The company, so the article, considers taking a minority stake in the Olkaria VI project which is planned to start construction in 2018. It was known this was planned as the first IPP/ joint investment project, which was planned as a traditional single flash condensing steam plant. KenGen sees this as a test case and if it works it could be the model for further development.
“KenGen could also partner with the Geothermal Development Co., a state-owned entity that is developing geothermal resources.” KenGen Managing Director Albert Mugo said in the interview with Bloomberg.