The amount of cash owed by Kenya Power and Lighting Company(KPLC) to US energy firm Ormat Technology for electricity supplies has hit Sh4.31 billion with the geothermal firm warning of financial exposure due to the deteriorating pace of payments by the State-owned utility.
Latest regulatory filings by the Naivasha-based geothermal power producer showed that KPLC owed it $62.8million(Sh8.81billion) by December 31, 2023, but only paid $32.2million(Sh4.5billion) in January and February 2024—leaving a balance of Sh4.31billion.
