• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Sunday, January 17, 2021
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

140MW Olkaria VI Construction on Track – KenGen

Nyawira ThairubyNyawira Thairu
May 13, 2020
in Kenyan News, Energy
Reading Time: 2 min
KenGen to Develop an additional 83MW Geothermal Power Plant in Olkaria

Leading power generating company, Kengen is not showing any signs of slowing down with the announcement of upcoming plans for 140MW Olkaria VI. The construction of the new power plant will be under a PPP. KenGens’ first PPP under the PPP act of 2013, and PPP regulations 2013.

The nod comes after the national treasury approved up to 560 MW implementation of geothermal projects through the PPP Act 2013. The first phase Olkaria VI in Naivasha will generate 140MW.

This will go along way in increasing the countries renewable energy capacity even as the country aims for 100% renewable energy capacity. Kenya recently overtook Italy for 7th in the worldwide geothermal energy producers.

Related: Kengen Invites Investors to Build 140MW Power Plant

In 2019, Kengen Invited bidders for a Build Own Operate Transfer (BOOT) joint venture in which they will finance, construct, operate the new power plant then transfer it back to KenGen. So far, eight bidders have been short-listed. These companies include; Ormat Technologies Inc, ITOCHU Corporation, Sumitomo Corporation, Enel Green Power, and a consortium of Engie Energie Services, Toyota Tsusho Corporation, Kyuden International Corporation as well as DL Koisagat Tea Estate.  They will ultimately proceed to the Request for Proposals stage in which one will be selected in June 2020.

The Joint agreement with the bidder will see the parties get into a SPV ( Special Purpose Vehicle) where Kengen will have a Power Purchase Agreement with KPC. On the other hand, it will enter into a Steam Supply Agreement with SPV in which it is a shareholder. Later, the project will be transferred to Kengen when the PPA term is over.

Previously Kengen has been financing its power projects either through dept funding or through infrastructure bonds. the allowance of PPP will certainly create an opportunity to bring in Private companies who have the readily available financial muscle and innovative technology as well as reduce cost burdens to government agencies due to exceeding operation costs.



Previous Post

Safaricom Pushes Turnover at NSE to KSh 1.6 Billion

Next Post

Safaricom Wins Case on Okoa Jahazi Copyright

Related Posts

Blow as KQ Workers Face New 30% Pay Cuts

Blow as KQ Workers Face New 30% Pay Cuts

January 16, 2021
Sasini Plc Emerges from Losses to Post Net Profit of KSh 12.6 Million

Sasini Plc Emerges from Losses to Post Net Profit of KSh 12.6 Million

January 16, 2021

NSE turnover rises 67% to KSh 773.02 Million

January 16, 2021

Weekly Tea Auction Records an Increase in Prices

January 16, 2021

CBK Aims to Increase Remittances into Kenya with First-ever Diaspora Remittances Survey

January 15, 2021

IMF Nears Financial Support Agreement with Kenya

January 16, 2021

Kenya’s Current Account Deficit Narrows to 4.7%

January 15, 2021

Gituku Kirika Joins IPSL as New Chief Executive.

January 15, 2021
Load More
Next Post
Safaricom Wins Case on Okoa Jahazi Copyright

Safaricom Wins Case on Okoa Jahazi Copyright

Follow Us

  • 7.1k Fans
  • 112.3k Followers
  • 2.2k Subscribers
  • 453 Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

There are no upcoming events.

View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

Amari Book Club Recommendations

Absolute Must-Reads for Banking and Finance Professionals

January 16, 2021
Leila Fourie, JSE Group CEO

‘’Markets Recovery Don’t Imply Economic Recovery,’’ Leila Fourie, CEO Johannesburg Stock Exchange

December 31, 2020
Angaza Awards

Call For Nominations – Angaza Awards: Women to Watch in Banking & Finance

December 8, 2020
Multichoice’s Technological Innovations for 2020

Multichoice’s Technological Innovations for 2020

November 12, 2020
Zoomoo Partners with MultiChoice to expand to Africa

MultiChoice and Zoomoo Partner to Expand Children Content in Africa

November 12, 2020

About Company

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2020. Kenyan Wallstreet· All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Global Markets
    • Healthcare
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2020. Kenyan Wallstreet· All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?