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Kenya Seeks Investors For 300 Megawatt Geothermal Power Project

Kenya Seeks Investors For 300 Megawatt Geothermal Power Project

From Reuters via BDlive

Kenya is seeking investors to build three power plants to harness steam in the Rift Valley, the state-run Geothermal Development Company (GDC) said on Friday.

The GDC said it expected to drill 120 wells in the first phase of the project.

The three plants are to produce 300MW of power by 2018 and the GDC estimates the project field has a potential of about 750MW.

“A period of 24-36 months will be provided for power plant construction,” it said in a statement, adding that investors would be required to provide 60%-80% of the capital.

It said investors that qualified would be expected to raise at least $400m for the development and the government would not provide risk guarantees.

From Reuters via BDlive