The Geothermal Risk Mitigation Facility (GRMF) has granted the sum of five hundred million Kenyan shillings to enable the drilling of Wells in Baringo county to the Geothermal Development Company with twenty percent of the cost geared towards the funding of infrastructure development within the region.
It is expected that 40 per cent of the costs involved will also be used for drilling and testing at a geothermal prospect area, the Paka Geothermal Project, which is one out of the Silali and Korosi geothermal prospects in the area.
Jared Othieno, the Managing Director and Chief Executive of GDC disclosed that “The funding will go towards the cost of the exploration drilling programme for the Paka Geothermal Project in Baringo”
Apart from the Development of the two-deep geothermal wells, the GDC will also work towards upgrading the infrastructure that was available pursuant to an agreement signed with the African Union Commission.
The Geothermal Development Company targets the production of 1,065 megawatts by 2030, of which the Paka project is targeted to generate 100MW.
The other members of the facility include the German Federal Ministry for Economic Co-operation and Development (BMZ), the EU-Africa Infrastructure Trust Fund (EU ITF) and the UK Department for International Development (DFID).