Kenya Electricity Generating Company (KenGen) PLC has secured a Kshs. 250 million geothermal development deal with Eswatini Electricity Company.
Under the contract, KenGen will conduct comprehensive geoscientific studies in three regions in Eswatini to determine the feasibility of constructing a geothermal power plant in the country.
The deal with the state-owned Eswatini Electricity Company underscores KenGen’s commitment to advancing and bolstering renewable energy across Africa and expanding its revenue source.
”This project also reinforces KenGen’s strategy to diversify revenue streams and ensure financial sustainability through geothermal consultancy and related services,” said Peter Njenga, KenGen’s Managing Director and CEO.
Over the past few years, a lot of African countries have increasingly embraced renewable energy sources as a way to diversify their energy mix and reduce dependence on fossil fuels. Geothermal power is among the most cost-effective renewable energy sources on the continent. Kenya leads the way in Africa and ranks among the top 10 leading geothermal energy producers globally, with a total geothermal capacity of 754 megawatts.
“This partnership with Eswatini marks another significant step in our mission to support Africa’s renewable energy ambitions and mitigate the effects of climate change. Our strategic focus is on expanding our footprint beyond Kenya and leveraging our geothermal expertise to foster sustainable development across the continent,” said Njenga.
The new partnership signifies KenGen’s growing influence in geothermal consultancy and drilling across Africa. The electric power generation company has completed successful geothermal projects in Tanzania, Djibouti, and Ethiopia.
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