Kenyan firm unveils plans for gas-fired power plant
21 May 2012
Eddy Njoroge, the managing director of KenGen, the Kenyan electricity generating company, has revealed ambitious plans to create a gas-fired power plant to run on imported liquefied natural gas.
To achieve this, Mr Njoroge said that as much as $686 million is needed in funding from private investors, which the firm is now actively seeking to secure.
According to KenGen, a new plant is necessary in order to meet rising demand for electricity in the country. Similarly, he explained that the gas-fired plant would help to reduce the number of blackouts in Kenya, which is the financial hub of east Africa.
"We are now exploring ways to finance the project," Mr Njoroge explained to Reuters.
He added: "We have not raised any funds yet, but we are working closely with the PPP unit (private public partnership) on how we can structure the project to be implemented as a PPP project."