Akiira One Geothermal Power Station

From Wikipedia, the free encyclopedia
Akiira One Geothermal Power Station
Location of Akiira One Geothermal Power Station
CountryKenya
LocationGreater Olkaria Geothermal Area
Nakuru County
Coordinates0°56′00″S 36°18′00″E / 0.93333°S 36.30000°E / -0.93333; 36.30000Coordinates: 0°56′00″S 36°18′00″E / 0.93333°S 36.30000°E / -0.93333; 36.30000
StatusPlanned
Construction began2016 (Expected)
Commission date2018 (Expected)
Owner(s)Akiira Geothermal Limited
Power generation
Nameplate capacity70 MW (94,000 hp) expandable to 140 MW (190,000 hp)
[edit on Wikidata]

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]

Akiira Geothermal Limited Stock Ownership
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. ^ a b Gachiri, John (8 December 2014). "Geothermal Power Firm Inches Closer to KSh27 Billion Plant Approval". Business Daily Africa. Nairobi. Retrieved 12 August 2015.
  2. ^ "Job Opportunities at Akiira Geothermal Limited In Kenya". Thinkgeoenergy.com. 15 May 2015. Retrieved 12 August 2015.
  3. ^ a b c Gachiri, John (6 August 2015). "Centum Gets Insurance Cover for Geothermal Power Project". Business Daily Africa. Nairobi. Retrieved 12 August 2015.
  4. ^ "Akiira Geothermal Power Project". Frontier Investment Management ApS. 12 August 2015. Retrieved 12 August 2015.
  5. ^ "Kenya Power Signs Deals to Buy 76 MW of Electricity". Business Daily Africa Quoting Reuters. 12 August 2015. Retrieved 12 August 2015.
  6. ^ Otuki, Neville (12 August 2015). "Kenya Power In 70MW Energy Deal With Obama Initiative-Funded Firm". Business Daily Africa. Nairobi. Retrieved 13 August 2015.
  7. ^ Otuki, Neville (5 April 2016). "Centum firm eyes more steam power wells in Sh1 billion plan". Business Daily Africa. Nairobi. Retrieved 6 April 2016.
  8. ^ Otuki, Neville (23 January 2018). "Centum affiliate firm to get Sh19.5 billion or geothermal plant". Business Daily Africa. Nairobi. Retrieved 25 January 2018.

External links[]

Retrieved from ""