The Kenya Revenue Authority (KRA) has dropped its $79 million (Sh10.18 billion) tax claim against the local subsidiary of US energy firm Ormat Technologies, the company said.
Ormat's local subsidiary, OrPower 4, is the third largest power producer in Kenya, behind state-owned KenGen and Lake Turkana Wind Power, and generates geothermal electricity. OrPower 4 generates and sells electricity to Kenya Power under a 20-year power purchase agreement expiring between 2033 and 2036.
