KenGen is seeking KES8bn for construction of an additional geothermal unit at the Olkaria 1 to raise the country’s installed power. The 70MW power project is valued at KES 18.2bn but can only raise KES10bn.The State-owned firm is looking for a direct loan to facilitate construction of the power plant.KenGen expects to add 15MW from geothermal wellheads in May as it plans to inject 560MW of geothermal power to the national grid in the next four years.
With additional geothermal power, there has been reduced power cost among consumers by 30% since August 2014. Data provided by KenGen indicates that geothermal power accounted for 51% of electricity bought by consumers and businesses in December, up from 14% the same month in 2013. Thermal power dropped to 10% from 37%.
This project comes after President Uhuru together with Rwandan President Kagame connected 280MW of geothermal power to the national grid at OlKaria, Naivasha.