www.businessweek.com
June 22, 2010
June 22 (Bloomberg) -- Kenya Electricity Generating Co., the country's largest power producer, started producing power today at a 35MW geothermal power plant. KenGen, as the state-owned company is known, will add a further 350MWs of geothermal capacity by 2013, Managing Director Eddy Njoroge said in an e-mailed statement. "Our increased investment in geothermal power production is also in line with KenGen's business strategy of reducing reliance on hydro power which is dependent on weather patterns, and to pursue green energy sources which are safe to the environment," Njoroge said.
The new plant at Olkaria, about 120 kilometers (75 miles) northwest of Nairobi, was co-financed by the European Investment Bank, which provided $40.8 million, the International Development Association and the French Development Agency. The three financiers have already pledged to provide funding for construction of another 280MW power project in Olkaria.
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