On 17 April 2012, Kenya's state-owned Geothermal Development Company (GDC) held its first implementation workshop to finance the US$503 million Menengai geothermal site (400 MW). This fundraising event follows the 2011 announcement that a consortium including Toshiba Corporation, Hyundai Engineering, and Toyota Tsusho won a US$368 million turnkey contract to build the Olkaria I and IV geothermal projects with state-owned Kenya Electricity Generating Company (KenGen). Key trends in this On Point include: GDC's key role is evolving to unlock geothermal. International suppliers seek opportunities in the new framework. Multi-lateral loans are fundamental to financial close on Kenyan geothermal.
On 17 April 2012, Kenya's state-owned Geothermal Development Company (GDC) held its first implementation workshop to finance the US$503 million Menengai geothermal site (400 MW). This fundraising event follows the 2011 announcement that a consortium including Toshiba Corporation, Hyundai Engineering, and Toyota Tsusho won a US$368 million turnkey contract to build the Olkaria I and IV geothermal projects with state-owned Kenya Electricity Generating Company (KenGen). Key trends in this On Point include: