The African Union Commission (AUC) has said it will offer US$2m to support geothermal exploration in Kenya currently being undertaken by Akiira Geothermal Ltd.
The funds will enable Akiira to embark on the exploration project and proceed to the second stage of exploratory drilling aimed at finding 77+MW of steam energy sufficient to drive the power plant for 25 years.
Akiira commenced on exploratory drilling in August 2015 and signed a Power Purchase Agreement with Kenya Power and Lighting Co Ltd to supply base load power from a 70MW power plant that it will construct once exploratory drilling has been completed.
According to a London based audit firm Ernst and Young (EY), Kenya is one of the leading countries in the world in investments in renewable energies like wind, solar, hydro, biomas and geothermal energy.
