Menengai will be Globeleq’s first geothermal plant and will contribute to reducing the cost of power in the country. Mike Scholey, Globeleq’s CEO said: “We are very excited to partner with TTC, which has an established presence in Africa and a proven track record in Kenya’s geothermal sector. The steam turbine and generator will be manufactured by Fuji Electric. Globeleq will operate and maintain the power plant once it reaches commercial operations in 2025.
Construction of the project is expected to commence during the first quarter of 2023 once financial close has been reached. The project will deliver clean, reliable and affordable baseload power to the national grid and also benefits from a Letter of Support issued by the Government of Kenya.
Globeleq’s $108 million Menengai project will be the company’s first geothermal plant and the signing of these agreements is a major milestone for the project after financing agreements were signed in December 2022 with the African Development Bank, the Eastern and Southern African Trade & Development Bank and Finnfund.ĭuring COP27, President Ruto of Kenya and Prime Minister Sunak of the UK jointly committed to fast-track green investment projects worth KES500 billion in the country, which included the Menengai project. Mike Scholey, CEO of Globeleq and, Kazumasa Kimura, COO for Africa Division of TTC signed the agreement in Tokyo earlier today. Globeleq, the private power company in Africa, has executed an engineering, procurement and construction (EPC) contract and a long-term service agreement (LTSA) with Toyota Tsusho Corporation (TTC) for the 35MW Menengai geothermal project in Nakuru County, Kenya.
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