KenGen approves rights issue to raise billions for energy projects
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- Category: Power & Energy
- Published on Thursday, 12 November 2015 05:02
- Written by Super User
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The Kenya Electricity Generation Company (KenGen) board has approved a rights issue to raise billions of shillings for its energy projects.
The power producer said it would seek investors’ approval to issue up to 7.8 billion shares, reversing last year’s decision to issue up to 2.2 billion ordinary shares. KenGen has previously said it would raise Sh28 billion.
Company secretary Rebecca Miano said the board’s resolution on the cash call now awaits the approval of the firm’s shareholders at an annual general meeting to be held in December 16.
Further approvals are expected from the Capital Markets Authority and the Nairobi Securities Exchange (NSE).
Read more: KenGen approves rights issue to raise billions for energy projects
US$ 10.8m agreement signed for renewable energy projects in Kenya
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- Category: Power & Energy
- Published on Thursday, 05 November 2015 11:36
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Chase Bank and the French Development Agency have signed a US$ 10.8m loan to finance renewable energy projects in Kenya.
Chase Bank Chief Executive Paul Njaga confirmed the reports and said that the money will be lent to businesses that want to invest in renewable energy technologies projects such as small hydro, biomass, biogas, solar, geothermal and other energy efficient measures.
“This is a 12-year facility and will therefore address long term funding requirements in energy projects. The total committed amount is US$ 10.8m of which some amount will be available immediately for lending,” he said.
Read more: US$ 10.8m agreement signed for renewable energy projects in Kenya
Construction of the Kenya-Ethiopia converter substation to commence
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- Category: Power & Energy
- Published on Saturday, 31 October 2015 08:26
- Written by Super User
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Kenya Electricity Transmission Company (KETRACO) has announced that the construction of US$ 230m high voltage direct current Kenya-Ethiopia converter substation is now set to begin.
A US$ 230m contract between KETRACO and a consortium of Siemens AG and Isolux Inginieria for the construction of the sub-station has already been signed.
The project which will be constructed in Suswa is intended to create power lines that will link Kenya to Ethiopia. It is being funded by the World Bank and is considered as an important interconnector between the two countries.
Read more: Construction of the Kenya-Ethiopia converter substation to commence
Amu Power confirms construction of coal fired power plant in Kenya
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- Category: Power & Energy
- Published on Friday, 30 October 2015 07:06
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A consortium that is tasked with the construction of a coal fired power plant in Kenya Amu power, has confirmed that the building of the plant in Lamu will commence next year in January.
Amu Power is a company formed by a consortium of Centum and Gulf Energy.
The community liaison officer for Amu power Aboud Sheikhalifa confirmed the reports and said that all plans are set and ready for construction to begin.
“The construction is slated to begin on January 15, 2016 and all the plans are in place to make sure that everything goes on as scheduled,” said Mr. Sheikhalifa.
Read more: Amu Power confirms construction of coal fired power plant in Kenya