The successful firm will enter into a joint venture with KenGen and create a special purpose vehicle (SPV) to finance and develop a 140MW geothermal plant in Olkaria, Naivasha.
State-owned electricity producer Kenya Electricity Generating Company (KenGen) #ticker:KEGN has extended the search for a joint venture (JV) partner for a geothermal plant until Friday as it looks to raise its stock of green energy.
KenGen, which has a 1,796.4 megawatt (MW) annual capacity and supplies 75 percent of the Kenya’s electricity, said last November the successful firm will enter into a joint venture with KenGen and create a special purpose vehicle (SPV) to finance and develop a 140MW geothermal plant in Olkaria, Naivasha.
KenGen says it will open the tender on Friday this week.
“KenGen has extended its tender/ request for qualifications of bidders for the financing, design, supply, construction, commissioning, operation and maintenance of the 140MW Olkaria PPP geothermal power project at Olkaria, Kenya on a Build, Own, Operate, Transfer (BOOT) basis,” said the firm in a tender notice.
The successful partner will have a majority 75 percent stake.
“KenGen has drilled and tested all production wells required for the project and will be responsible for the operation, maintenance, and management of steam supply to the project,” said KenGen.
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