Ruto defends Ksh95 billion deal between KETRACO and Adani Group
President Ruto has defended the Ksh95 billion deal signed between Kenya Electricity Transmission Company Limited (KETRACO) and Adani Energy Solutions to build and operate power transmission lines in the country
President Ruto has defended the Ksh95 billion deal signed between Kenya Electricity Transmission Company Limited (KETRACO) and Adani Energy Solutions to build and operate power transmission lines in the country.
Speaking on Thursday, October 24, in Nakuru County, President Ruto noted that the Public Private Partnership (PPP) deal with Adani was preferable to borrowing, which would burden Kenyans.
The Head of State added that the deal offers a win-win outcome as it allows the government to tap into the efficiency of the private sector.
“The Adani Group is investing Ksh95 billion in the transmission lines. We would have otherwise gone to borrow that money and burden the people of Kenya.
“It is important for us as a nation to appreciate that a partnership between the public and private sector gives us a win-win outcome where we can deliver public services using the efficiency of the private sector as a way of supporting overall development in our country,” President Ruto stated.
His remarks come after Energy and Petroleum Cabinet Secretary Opiyo Wandayi announced the signing of the 30-year deal on Friday, October 11.
Wandayi noted that the deal would see Adani Energy Solutions develop, finance, construct, operate, and maintain key transmission lines and substations across the country.
The CS further affirmed that the deal will address the persistent power blackouts as well as ensure power reliability.
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“The signing of this agreement marks the conclusion of a long-negotiated process that has been ongoing for the past 4 months. As part of this infrastructure development, the project company will raise all the funding in form of debt and equity that will be repaid over the 30-year period of the project agreement.
“The project cost, which is currently estimated at KShs 95.68 billion will be crystallised through a competitive bidding process, that will be jointly handled by KETRACO and the Project Company, thus ensuring significant value for money for the country,” Wandayi stated.
The transmission lines and substations being developed by Adani are 400kV (Double-Circuit) Gilgil-Thika-Malaa-Konza Line, 220kV Rongai-Keringet-Chemosit Line, and 132kV Menengai-Ol Kalou-Rumuruti Line.
Others are the 400/220kV Substation at Lessos and the 132/33kV Substation at Thurdibuoro.
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