Akiira One Geothermal Power Station
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.
| 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 |
| 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) |
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
- 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.
- 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.