16 January 2014

Kenya: Kengen to Go Flat Out to Meet Demand - CEO

Kenya plans to have a nuclear power plant in the next 15 years to meet the high demand for electricity as projected in the Vision 2030 development roadmap, the new KenGen chief executive Albert Mugo has said.

He said the nuclear energy board headed by Ochilo Ayako is already preparing the country for the immense power demand in the near future.

"From the resources we have, we may not be able to meet over 30,000MW of power demand in 2030 and the board is making preparations so that we can have a nuclear plant in 10 to 15 years," Mugo said during his formal introduction at KenGen's headquarters at Stima Plaza.

He has replaced MD Eddy Njoroge who retired last year.

Mugo said apart from the development of nuclear energy, KenGen is undertaking various projects to ensure the government achieves the 5,000MW plus power plan in three years. The company is currently implementing a 208MW geothermal power project which will be commissioned at the end of this year.

"We have a strategy of accelerating power production from geothermal and wind, so as to cut production from fuel which is very expensive," he said.

KenGen's director of regulatory affairs, Simon Ngure said the company is seeking to raise Sh30 billion from investors to fund various projects to meet its power production targets.

"We want to do a 100MW wind power project in Northern Meru to add to the 20MW currently coming from Ngong wind farm, thus we are raising debt and equity from lenders and shareholders to get capital to develop projects," Ngure said.

He added that the company is planning to raise its share capital from the current 2.2 billion shares in the market to 10 billion shares.

Copyright © 2014 The Star. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.