February 28 (Renewables Now) - Kenya’s state-owned power producer KenGen has won a contract to drill geothermal wells for a power project in Ethiopia.
The agreement which will bring the Kenyan company a revenue of about KES 621 million (EUR 5.46m/ USD 6.22m) was signed over the weekend following a joint bid of KenGen and Shandong Kerui Group of China in a tender by the Ethiopia Electric Power (EEP).
We are delighted to announce that Kenya Electricity Generating Company PLC is part of a consortium that bid and won a multi-million shillings contract to offer drilling services to Ethiopia. #KenGenEnergizingAfrica pic.twitter.com/0g1hP4Xj3o— KenGenKenya (@KenGenKenya) February 25, 2019
The project is Ethiopia's first geothermal energy exploration project.
The contract value is more than USD 80 million in total and includes 2 sets of 50DB geothermal drilling rigs and a whole year of geothermal drilling services, the Chinese partner said in a press release today.
(KES 100 = EUR 0.88/ USD 1)