Reports: Kenya to seek $750 million from Group of Eight to support geothermal development
Kenya's state-run Geothermal Development Company will seek $750 million from the Group of Eight major nations to spur development of the company's geothermal assets.
According to several published reports the GDC will drill a 3,000 MW steam field next year. The reports were based on comments made by a senior company official.
Kenya is the reportedly the first African company to try to tap the heat-energy trapped under the Earth. The steam field, which will be called "Siilali," will be located in Kenya's Rift Valley.
GDC's chief executive officer Silas Simiyu told Reuters he believes the location has the potential to produce 7,000 MW of geothermal energy.
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