Kenya awards Olkaria geothermal contract
Japanese trading company Toyota Tsusho Corp (Other OTC: TYHOF.PK) and South Korea’s Hyundai Engineering Co have received a JPY30bn (US$383m) from Kenya Electricity Generating Co to trip geothermal power capacity in Olkaria, 100km northwest of Nairobi.
The consortium will build a new 140MW geothermal plant and expand the capacity of another unit from 45MW to 185MW in a turnkey contract, using steam generators from Toshiba Corp.
As a result of the upgrade, geothermal capacity in the area will rise to 395MW from a current 115MW when commercial operation starts in April 2014.
Kenya’s geothermal potential is estimated at around 7000MW and the country aims to produce at least 5000MW from it by 2030.
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