The construction of the 70MW geothermal power plant in the Olkaria, Kenya is set to start soon. This is after Kenya Electricity Generating Company PLC (KenGen) awarded a full turn-key engineering, procurement and construction (EPC) contract to Marubeni Corporation and this will be their first geothermal power plant project in Africa.
The geothermal power project which is expected to be completed in 2021 will entail the construction of unit 6 within Olkaria1 Geothermal Power Station. The main components required for this project, including steam turbines and generators, will be provided by the Japanese firm, Fuji Electric.
Financing the geothermal power plant
This geothermal power plant will be financed by an ODA loan from Japan International Cooperation Agency (JICA), with additional loans from the European Investment Bank. Peak demand in Kenya has been increasing by an average of approximately 5% annually.
Marubeni has expressed commitment to meeting Kenya’s robust electricity demand and contributing to the Kenyan economic development.
Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business activities across wide-ranging fields including food, consumer products, chemical & forest products, energy & metals, power & plants projects, and transportation & industrial machinery.
Additionally, the Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource development throughout all of the above industries.