KenGen to sign contract on 280 MW Olkaria IV project next week
KenGen reports it will sign a contract with a consortium of Japanese Toyota Tsusho Corp and South Korean Hyundai Engineering & Construction for the 280 MW Olkaria IV geothermal plant an extension to the Olkaria I and II plants.
Reported from Kenya, KenGen said today that “it will sign a contract next week with a consortium to build its 280 megawatt (MW) Olkaria IV geothermal plant meant to be operational in 2014, as it pushes to diversify its power sources.
At the same time, KenGen Managing director Eddy Njoroge said an extra 202 MW would be injected into the national grid next year from a mix of thermal power, renewable energy and rehabilitation of an existing hydropower dam.
The total cost of Olkaria IV — an extension of Olkaria I and II plants that already produce a total 115 MW — is $1 billion, he added.
“The contract is for 27 months which means it comes on board around January 2014,” Njoroge told Reuters on a sidelines of carbon credit workshop.
The consortium comprising Japan’s Toyota Tsusho Corp and South Korea’s Hyundai Engineering & Construction, is expected to begin construction of the geothermal plant by the end of the year.
The plant is funded jointly by the Kenyan government, World Bank, Germany’s Development Bank KfW, European Investment Bank, JapanInternational Corporation Agency and French Development Agency, AFD and KenGen.”
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Source: Reuters via In2EastAfrica