The Akiira One Geothermal Power Station, is a proposed 70 MW (94,000 hp) geothermal power plant in Kenya,[1] the largest economy in the East African Community.

Akiira One Geothermal Power Station
Location of Akiira One Geothermal Power Station
Country	Kenya
Location	Greater Olkaria Geothermal Area Nakuru County
Coordinates	0°56′00″S 36°18′00″E
Status	Planned
Construction began	2016 (Expected)
Commission date	2018 (Expected)
Owner(s)	Akiira Geothermal Limited
Power generation
Nameplate capacity	70 MW (94,000 hp) expandable to 140 MW (190,000 hp)
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Location

The facility is located in the Greater Olkaria Geothermal Area, about 12 kilometres (7.5 mi), by road, south of the existing Olkaria I Geothermal Power Station, and approximately 127 kilometres (79 mi), northwest of Nairobi, Kenya's capital and largest city.[2]

Overview

Centum Investments, a Kenyan investment company, in conjunction with three other non-Kenyan entities, jointly plan to construct the Akiira Geothermal Power Station at a projected cost of US$300 million, using Akiira Geothermal Limited, the special-purpose company they jointly own.[3] The power station will be developed in phases, with the first 70 megawatts coming on-line by December 2018 and the next 70 megawatts added to the national grid at a later date.[4] In August 2015, Akiira Geothermal Limited signed a power purchase agreement with Kenya Power and Lighting Company, at a cost of 9.23 US cents per kilowatt hour.[5][6]

Ownership

Akiira One Geothermal Power Station is owned by Akiira Geothermal Limited, a Kenyan limited liability company owned by Centum Investment Company Limited and three other non-Kenyan companies. The shareholding in Akiira Geothermal Limited is as depicted in the table below:[3]

Construction funding

The total construction bill is budgeted at US $300 million (KSh30 billion). Of that, 30 percent will be sourced from shareholders while the remaining 70 percent will be borrowed from Standard Bank.[3] Akiira has already received a KSh86 million grant from the Overseas Private Investment Corporation (OPIC) in October 2014, as part of President Obama’s Power Africa programme.[1][7] In January 2018, the European Investment Bank (EIB), offered to lend €155 million (KSh19.5 billion) on commercial terms, to fund the construction.[8]

See also

• List of power stations in Kenya
• Geothermal power in Kenya
• Olkaria I Geothermal Power Station
• Olkaria II Geothermal Power Station
• Olkaria III Geothermal Power Station

References

External links

• The Rise of East Africa As An Alternative Energy Mecca