Thursday, 5 January 2017

Kenya eyes risk fund to accelerate geothermal development

Source: Standard Digital, 4th December 2016, by Macharia Kamau

Macharia Kamau reported, "An insurance product by German development bank KFW is expected to fast track the exploitation of geothermal energy in East Africa. The product that is financed and administered by KfW Entwicklungsbank (the German development bank) and the African Union Commission (AUC) will give a form of insurance cover to governments and private sector firms within the African Rift Geothermal System exploring for geothermal energy.  The Rift System comprises of 11 countries and has a geothermal potential of about 15,000 megawatts. (...) The initiative will see organisations that take insurance cover with KFW get back 80 per cent of the money invested in the exploratory activities if it drills a well with capacity to produce less than 5MW. (...)"

Read more at: https://www.standardmedia.co.ke/business/article/2000072053/kenya-eyes-risk-fund-to-accelerate-geothermal-development