Kenya seeks more funds for geothermal projectsTop Kenyan...

Kenya seeks more funds for geothermal projects

Top Kenyan officials are in Tunisia to negotiate for additional funding to speed up harnessing of geothermal energy.

The Government is financing drilling of the wells while some lenders are underwriting some of the drilled ones.

“We have some €127 million for steam development for Menengai from the World Bank,” he added.

Already the French Development Bank has pledged some $120 million (about Sh12 billion ) to the State firm expected to be disbursed in January, next year. The company aims to drill 200 wells in the Baringo, Bogoria, Paka, Chepchuk, Korosi and Silale areas. Nine other wells are to be dug in the OlKaria fields .

The cost of drilling one well is estimated at Sh585 million ($6.5 million), while a piece of generation set is estimated at Sh765 million ($8.5 million).

Drilling of one well takes two months and has become more necessary with ongoing efforts to shift the power generation mix to be predominantly geothermal from the current hydro which is prone to erratic weather. “We intend to shift to base load geothermal power leaving hydro for peaking only,” said the PS.