KenGen bags 75 million USD Ethiopia geothermal deal

Kenya’s biggest electricity generator, KenGen, has bagged a Sh7.6 billion [75.9 million USD] contract to drill geothermal wells in Ethiopia in a joint bid with Chinese company Shandong Kerui Group.

The deal with Ethiopian Electric Power (EEP) is a boost to the Nairobi Securities Exchange-listed Kenya Electricity Generating Company’s (KenGen) revenue streams.

KenGen CEO Rebecca Miano signed the contract with her EEP counterpart Abraham Belay last weekend.

The project involves drilling as well as rig operation and maintenance of geothermal wells at Aluto, Ethiopia.

Read more at Business Daily (Patrick Alushula)

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