ENERGY BRIEF
2nd February 2016, Kenya Electricity Generating Company (KenGen)., the country’s biggest power producer announced that it will receive $387.2 million loan Japan International Cooperation Agency (JICA) to fund the construction of a geothermal power plant.
The loan agreement will be signed in March, 2016 once the company plans to complete on the tendering process for the construction of the Olkaria 5 facility.
According to KenGen Chief Executive Officer Albert Mugo, the power plant construction is expected to commence in the third quarter of 2016 while the power generated from the plant will be added to the national grid by 2018.
KenGen plans to double its generation capacity to 4,270 megawatts by 2025 at a cost of $8.1 billion according to the company’s Finance Director John Mudany.
