Lets do the math! Tufanye hesabu! As of October 2014 The African Development Bank had released Sh 1.1 Billion partial risk guarantee for 105 megawatts at Menengai . The partial guarantee had three roles; - attracting investors to the Menengai project - helping tap geothermal potential - helping bridge the gap between supply and demand April 2014, The Commonwealth investment corporation pledged to pump $ 1billion (86million) into Kenyas Geothermal power. This was to be in form of equity and debt which was to help the country realize the envisaged production of 5000MW. Sunday Nation February 24,2013 reported that Menengai project had been financed by AfDB to the tune of $150 Million Daily Nation, Tuesday May 28,2013-Menengai Geothermal received a pledge of 10 Billion from the World Bank to speed up the drilling and exploration of the green energy Daily Nation on January 27, 2012 reported that AfDB had approved 10.2 Billion loan to fund Menengai project. The Menengai project is financed by Government of Kenya, AfDB and other development partners to the tune of more than Sh 68billion. Saturday Nation on June 2, 2012 reported that GDC was to produce 800MW at the cost of 68.8 billion. They have already received the sh 68 billion, right? So how many MW have they produced so far? If there is nothing to show for all this money, then I understand #WhySimiyuMustGo
Posted on: Tue, 13 Jan 2015 06:34:40 +0000
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