- Kenya’s state-owned power producer KenGen, has launched an initiative to raise USD 4.5 billion in funding to support a 10-year strategy that aims to increase installed power capacity by 1500 MW.
- KenGen has already secured financial backing from various lenders for a 300 MW geothermal project at Menengai.
The announcement was made during a visit to Kenya by German Vice-Chancellor and Minister of Economic Affairs Robert Habeck. The Vice-Chancellor led a German delegation of more than 800 members of the German Investment Forum to explore areas of investment and cooperation between Germany and Kenya. Part of the visit was a tour of the Olkaria geothermal wells and power plant facilities.
KenGen Managing Director, Eng Peter Njenga, said the company has already launched its ambitious 10-year strategic plan (2024–2034) that seeks to add an additional 1,500 megawatts (MW) of electricity sourced from green sources to the country’s national grid to meet the growing demand for energy in the country, which he said is expected to grow exponentially in these 10 years.
The MD noted the production will include 840 MW from geothermal, 140 MW from hydro sources, and the rest from solar and wind in those 10 years.
Author: Bryan Groenendaal
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