Kenya’s Kengen to raise $12b

Kenya Electricity Generating Company (KenGen) said on Monday it plans to raise $12 billion to build six geothermal power plants to generate 585 megawatts meant to be operational by 2016, as it pushes to diversify its power sources.

Kenya Electricity Generating Company (KenGen) said on Monday it plans to raise $12 billion to build six geothermal power plants to generate 585 megawatts meant to be operational by 2016, as it pushes to diversify its power sources.

KenGen’s Managing Director Eddy Njoroge told Reuters in an interview at the Ol Karia power plant located in the Rift Valley north west of Nairobi, that his company was open to different financing models to raise the financing required.

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