M a r k e t N e w s

Kenya seeks funds to grow power sector

Posted on : Wednesday, 21st January 2015

NAIROBI – KENYA requires $2 billion (Sh182,5 billion) to generate an additional 5 000 megawatts of electricity in two years.

The government would start initiating a proposed 960 MW coal power plant in Lamu before embarking on other power projects to produce 4040 MW to be added to the national grid.
This, according to experts will help boost economic growth, job creation as well as lower the price of electricity.
The East African nation predicts the new coal plant at Lamu Port, which is currently under construction, would alleviate the country’s energy dilemma, and subsequently create more jobs and enhance economic growth.
Kenya had already advertised for successful tenders to start implementing the power project by 2017.
The announcement followed the recent ruling on the irregularity in awarding tenders to the energy project business people comprising the for the scheme

Source : www.cajnewsafrica.com
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