UK company to provide cheap electricity to Kenyans in the Ksh500 billion investment deal
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UK company, Globeleq to lead the Menengai Geothermal Powerplant to provide cheap electricity to Kenyans in the Britain-Kenya investment deal
UK company, Globeleq to lead the Menengai Geothermal Powerplant to provide cheap electricity to Kenyans in the Britain-Kenya investment deal.
Over 750,000 Kenyans will receive affordable, renewable energy from the Menengai Geothermal Powerplant under Globeleq, a multibillion-pound UK firm.
The initiative is a component of the green investment projects of Ksh500 billion between Kenya and the UK.
The initiative would employ at least 200 Kenyans, according to Jane Marriott, the departing UK ambassador to Kenya.
“This plant will both advance Kenya’s global leadership on climate change and bring down the cost of power- showing that green growth is good for business and good for Kenyans,” Marriott stated in February 2023.
The plant is expected to generate 35MW of electricity purchased by Kenya Power for distribution to Kenyans nationwide.
Established in 2002, Globeleq heads development projects, especially in African power plants.
“We have the financial strength, and management and operational expertise to power Africa to realize its potential,” it states on its website.
The firm has regional offices in Nairobi, Cape Town (South Africa), and Douala (Cameroon), with the head office in London.
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Globeleq is owned by British International Investment (BII) with 70 percent shares and Norfund with 30 percent shares and seeks to deliver economically and environmentally sustainable energy projects.
It partners with financial investors, fuel suppliers, and technology partners to create effective solutions.
Some technologies the company uses to generate electricity include Heavy Fuel Oil (HFO), gas, wind, solar and geothermal.
Meanwhile, other projects Kenya has partnered with the UK include Nairobi Railway City (Ksh11.5 billion), Malindi Solar Expansion (Ksh7.5 billion), Grand High Falls Dam (Ksh425 billion), United Green (Ksh31 billion), and Guarantees.
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