ThinkGeoEnergy – Geothermal Energy News

KenGen seeking to raise $1.95bn in funding for geothermal development

KenGen has announced plans for a large capital raising of up to $1.95 billion for its geothermal expansion plans.

As reported yesterday by Bloomberg, Kenya Electricity Generating Company (KenGen) is seeking to raise funding of $1.95 billion that is to finance the development of new power projects, as well upgrade existing plants.

The company aims to double its electricity generation from renewable energy sources. Today, KenGen operates several geothermal plants with a total installed capacity of 706 MW, Hydropower plants with an installed capacity of 814 MW, wind plants with a capacity of 26 MW, and thermal power plants with a capacity of 224 MW.

Over the next five years, KenGen plans to add up to 650 MW in geothermal power generation capacity. An 83 MW plant is currently under construction and is expected to come online later this year. A 140 MW geothermal plant is being worked on as part of a public-private-partnership plan, upgrades to existing plants are to add 66 MW and additional geothermal wellhead plants at the Eburru geothermal field are to add another 25 MW.

Source: Bloomberg

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