Africa: Kengen Eyes Africa for Geothermal Projects to Diversify Revenue

5 November 2024
Capital FM (Nairobi)
By Phidel Kizito

Nairobi — Kenya Electricity Generating Company (KenGen) is strengthening its presence in Africa's geothermal sector, with strategic investments aimed at diversifying revenue streams.

The utility firm is in the final stages of geothermal exploration in Eswatini, with plans to conclude feasibility studies by December.

KenGen's Managing Director, Peter Njenga, highlighted that the company will proceed to the drilling phase depending on the study results.

"We are exploring in Eswatini to confirm geothermal potential, and all indications suggest it is feasible," he noted.

KenGen is also exploring geothermal opportunities in Zambia and is expediting a similar project in Tanzania, with drilling set to begin upon successful feasibility tests.

Meanwhile, in Ethiopia, KenGen continues to drill geothermal wells for the Ethiopia Electric Power (EEP) Company under a Sh7.6 billion contract. The company has also been active in Djibouti, undertaking a Sh700 million contract since 2021 to drill three geothermal wells.

Kenya leads Africa in geothermal production, with an installed capacity of 863MW, of which KenGen contributes approximately 713MW.

The country's Rift Valley region has an estimated geothermal potential of 10,000MW, positioning it as a key player in the continent's renewable energy sector.

Read the original article on Capital FM.

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