HomeRegional NewsEast AfricaUS$300 million for Geothermal plant

US$300 million for Geothermal plant

23 March 2009 – A loan of US$300 million has been received by Kenya Electricity Generating Company from the French Development Agency for the development of a geothermal power plant.

Geothermal expansion"The French Development Agency (has) issued KenGen with its first loan of $300 million without a government guarantee for the funding of the Olkaria II third unit," the utility said in a statement this week.

"When complete, the power generation unit will add an additional 35 MW of electricity to the national grid."

It has been estimated that Kenya has the potential for some 3,000 MW generated from geothermal power of which currently only about 200MW is being exploited.