Globeleq, a London-based power company, has secured $72 million in funding from the African Development Bank, the Eastern and Southern African Trade and Development Bank, and Finnfund to develop a 35 MW power plant at the Menengai Crater geothermal fields in Nakuru, Kenya.
The plant will generate clean, reliable, and cost-effective energy for the country as it aims to transition to 100% clean energy by 2028.
Globeleq CEO Mike Scholey stated that the Menengai geothermal project, the company’s first geothermal project, aligns with their focus on investing in renewable energy sources to create clean, reliable, and cost-effective energy for Kenya and address the climate crisis. The company has been an active participant in the Kenyan energy sector for many years.
Currently, approximately 80% of Kenya’s electricity comes from clean sources, mainly geothermal and wind. The Menengai project is the second large-scale geothermal field being developed in the country, following the Olkaria units in Naivasha Sub-County.
Construction of the Menengai power plant is scheduled to begin within the next few months and is expected to be completed by September 2025. Upon completion, the project is expected to significantly boost Kenya’s efforts towards transitioning to 100% clean energy and providing cheaper electricity, while also protecting the environment from the pollution caused by thermal power plants.