State-owned electricity producer Kenya Electricity Generating Company (KenGen) #ticker:KEGN is seeking a joint venture (JV) with an external investor as it looks to raise the stock of green energy.
KenGen, which has a 1,796.4 megawatt annual capacity and supplies 75 percent of the Kenya’s electricity, said the successful firm will enter into a joint venture with KenGen and create a special purpose vehicle (SPV) to finance and develop a 140 megawatt (MW) geothermal plant in Olkaria, Naivasha. The firm will have a majority 75 percent stake.
