This archive report was first published on 23 June 2021.
Kenya Electricity Generating Co. (KenGen) is set to embark on a massive investment drive to boost its power output from renewable fuel. The company aims to raise $1.95 billion over the next five years to nearly double its current capacity.
According to KenGen, the funds will be sought from development financiers, with a significant portion earmarked for the construction of new power plants. The company plans to build four new 140MW steam-power plants, with two of the facilities already having steam wells drilled.
KenGen currently generates 1,803MW of Kenya's total installed capacity of 2,892 MW, with 705.5 MW of that coming from geothermal energy. The company's total installed generation capacity stands at 1,818MW, comprising hydro (826MW), geothermal (713MW), thermal (254MW), and wind (26MW).
President Uhuru Kenyatta has been pushing investors to tap into Kenya's vast geothermal resources, with the goal of switching entirely to renewable energy to generate electricity for the nation's grid. Currently, about 90% of Kenya's electricity comes from renewable sources.
KenGen's investment drive is part of the government's efforts to increase the country's reliance on renewable energy. The company's plans are expected to play a significant role in achieving this goal.
