Silas Simiyu, managing director of the state-run company Geothermal Development Company (GDC) said that its company plans to install 200 new MW per year in the next ten years (2,000 MW by 2020), aiming at installing the same amount in the following decade. The company plans on drilling the wells and building the plants before handing them over to national or foreign companies which will manage them.
In order to develop the plan, GDC is looking for a yearly funding of 20 billion shillings (approximately 178 million euros) for the next five years (the Kenyan government has given a guarantee for the same amount). For the subsequent years, GDC hopes to raise its own funds.
Simiyu said several U.S., European, Chinese and local companies were interested in investing in the project, but he didn’t mention any details.