KenGen to break ground on Olkaria V next month

Geothermal power plant. Author: gamene. License: Creative Commons, Attribution 2.0 Generic

April 26 (Renewables Now) - Construction works for the Olkaria V geothermal power project will begin next month, Joseph Njoroge, Principal Secretary at Kenya's Ministry of Energy, said.

State owned power producer KenGen has estimated the cost of the project at KES 40 billion (EUR 355m/ USD 388m), to be mainly funded by the Japan International Cooperation Agency (JICA).

"We should be breaking ground in May because most of the funding has been obtained. We have received funds from various sources. We have got funds from JICA, the main funding agent,” Njoroge told journalists in Nairobi.

Earlier this year, KenGen contracted a group led by Japanese industrial major Mitsubishi Corp (TYO:8058) to build the plant.

Olkaria v is expected to be ready for commissioning and connection to the national electricity grid by 2019.

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