| Akiira One Geothermal Power Station | |
|---|---|
Location of Akiira One Geothermal Power Station | |
| Country | Kenya |
| Location | Greater Olkaria Geothermal Area Nakuru County |
| Coordinates | 0°56′00″S 36°18′00″E / 0.93333°S 36.30000°E |
| Status | Planned |
| Construction began | 2016 (Expected) |
| Commission date | 2018 (Expected) |
| Owner(s) | Akiira Geothermal Limited |
| Power generation | |
| Nameplate capacity | 70 MW (94,000 hp) expandable to 140 MW (190,000 hp) |
The Akiira One Geothermal Power Station, is a proposed 70 MW (94,000 hp) geothermal power plant in Kenya,[1] the largest economy in the East African Community.
Location
The facility is located in the Greater Olkaria Geothermal Area, about 12 kilometres (7.5 mi), by road, south of the existing Olkaria I Geothermal Power Station, and approximately 127 kilometres (79 mi), northwest of Nairobi, Kenya's capital and largest city.[2]
Overview
Centum Investments, a Kenyan investment company, in conjunction with three other non-Kenyan entities, jointly plan to construct the Akiira Geothermal Power Station at a projected cost of US$300 million, using Akiira Geothermal Limited, the special-purpose company they jointly own.[3] The power station will be developed in phases, with the first 70 megawatts coming on-line by December 2018 and the next 70 megawatts added to the national grid at a later date.[4] In August 2015, Akiira Geothermal Limited signed a power purchase agreement with Kenya Power and Lighting Company, at a cost of 9.23 US cents per kilowatt hour.[5][6]
Ownership
Akiira One Geothermal Power Station is owned by Akiira Geothermal Limited, a Kenyan limited liability company owned by Centum Investment Company Limited and three other non-Kenyan companies. The shareholding in Akiira Geothermal Limited is as depicted in the table below:[3]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Centum Investments of Kenya | 37.5 |
| 2 | Ram Energy of the United States of America | |
| 3 | Marine Power of the USA | |
| 4 | Frontier Investment Management ApS of Denmark | |
| Total | 100.00 | |
Construction funding
The total construction bill is budgeted at US $300 million (KSh30 billion). Of that, 30 percent will be sourced from shareholders while the remaining 70 percent will be borrowed from Standard Bank.[3] Akiira has already received a KSh86 million grant from the Overseas Private Investment Corporation (OPIC) in October 2014, as part of President Obama’s Power Africa programme.[1][7] In January 2018, the European Investment Bank (EIB), offered to lend €155 million (KSh19.5 billion) on commercial terms, to fund the construction.[8]
See also
References
- 1 2 Gachiri, John (8 December 2014). "Geothermal Power Firm Inches Closer to KSh27 Billion Plant Approval". Business Daily Africa. Nairobi. Retrieved 12 August 2015.
- ↑ "Job Opportunities at Akiira Geothermal Limited In Kenya". Thinkgeoenergy.com. 15 May 2015. Retrieved 12 August 2015.
- 1 2 3 Gachiri, John (6 August 2015). "Centum Gets Insurance Cover for Geothermal Power Project". Business Daily Africa. Nairobi. Retrieved 12 August 2015.
- ↑ "Akiira Geothermal Power Project". Frontier Investment Management ApS. 12 August 2015. Retrieved 12 August 2015.
- ↑ "Kenya Power Signs Deals to Buy 76 MW of Electricity". Business Daily Africa Quoting Reuters. 12 August 2015. Retrieved 12 August 2015.
- ↑ Otuki, Neville (12 August 2015). "Kenya Power In 70MW Energy Deal With Obama Initiative-Funded Firm". Business Daily Africa. Nairobi. Retrieved 13 August 2015.
- ↑ Otuki, Neville (5 April 2016). "Centum firm eyes more steam power wells in Sh1 billion plan". Business Daily Africa. Nairobi. Retrieved 6 April 2016.
- ↑ Otuki, Neville (23 January 2018). "Centum affiliate firm to get Sh19.5 billion or geothermal plant". Business Daily Africa. Nairobi. Retrieved 25 January 2018.