Kenya Power settles Sh8bn debt to US producer

A ready-to harvest steam well drilled by Geothermal Development Company (GDC) at Menengai exploration site in Nakuru.

Photo credit: File | Nation Media Group

Kenya Power has paid out $61 million (Sh7.9 billion) it owed a US energy firm Ormat Technology for electricity supplies over the last eight months, signalling improved liquidity for the majority-owned State firm.

Kenya Power owed the Naivasha-based geothermal power producer $62.8 million (Sh8.17 billion) by December 2023 for electricity supply.

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