Kenya has called for expressions of interest from investors to install 400 megawatts of geothermal power capacity near Nakuru, capital of Rift Valley province, by 2014, the state-owned Geothermal Development Corp., or GDC, said in a statement Friday.
Kenya
has
called for expressions of interest from investors to install 400 megawatts of
geothermal power capacity near Nakuru, capital of Rift Valley province, by
2014, the state-owned Geothermal Development Corp., or GDC, said in a statement
Friday.
"The long-term plan is to develop 1,000MW within this prospect," the
GDC said in a statement. "However, the current project aims to realize
about 400MW by 2014, 600MW by 2016 and 1,000MW by 2018."
Under the project, GDC will undertake resource development and management,
including development of civil infrastructure, exploration and appraisal
drilling, while the investor's role will include financing, design,
construction, operation and maintenance of the power plants, the statement
said.
The expected capital structure for the power plant is at least 25% equity and
75% debt, the statement.
A shortlist is expected to be complete by March, 2011 followed by request for
detailed proposals.
Kenya
is
currently experiencing an acute power deficit largely due to an over-reliance
on hydropower and is seeking investors in alternative sources including
geothermal and wind farms.
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