KenGen managing director Albert Mugo. PHOTO | FILE
KenGen will issue tenders for the construction of two new geothermal plants in Olkaria in February, setting the stage for the injection of an additional 210 MW of power into the grid by 2018.
KenGen managing director Albert Mugo said on the sidelines of the firm’s annual general meeting on Wednesday that the 140 MW Olkaria V and 70 MW Olkaria I unit VI will take two years to complete with the ground breaking set for June next year.
“We have prequalified the contractors for Olkaria 5, which is fully financed. By February we will tender the project with a view to breaking ground in June 2016. The same applies to Olkaria I unit VI” said Mr Mugo.
KenGen had planned to complete the Sh66 billion ($650 million) projects partly funded by the Japan International Cooperation Agency (Jica) by the end of 2017.
The firm is also working with the public private partnership unit of the Treasury to look for a transaction adviser to help structure a joint venture deal for the 140MW first phase of its Olkaria VI power plan.
KenGen recently brought on-stream 280 MW of geothermal power from the Olkaria IV and Olkaria I units IV and V.
PAYE Tax Calculator
Note: The results are not exact but very close to the actual.
