On the 26th Feb, KenGen, Kenya’s biggest electricity generator, signed a Sh7.6 billion contract to drill geothermal wells in Ethiopia in a joint bid with Chinese company Shandong Kerui Group.
The project involves drilling as well as rig operation and maintenance of geothermal wells at Aluto, Ethiopia.
This will push the production of electricity to big dimensions, before we go to the electricity the first place KenGen will gain command authority is the
Nairobi Securities Exchange-listed Kenya Electricity Generating Company’s (KenGen) revenue streams.
The deal with EEP will help Ethiopia end a 38-year wait for a commercial breakthrough in geothermal development, having started trials in 1981, according to Dr Belay.
The project is financed by the World Bank through a $76.8 million (Sh7.6 billion) loan to the Ethiopian government.