The GDC Menengai Geothermal project in Nakuru County is getting very close to commencement. On 22 August 2018, the Business Development Director at Quantum Power Mr. David Carroll, paid a courtesy call on the Managing Director & CEO Eng. Johnson P. Ole Nchoe to brief him on the progress.
The two companies; GDC and Quantum Power have already finalized Condition Precedents which essentially allows the Independent Power Producer (IPP) to start the Menengai Plant construction. The move allows Quantum Power to reach a financial close and move to the ground to commence construction.
In June this year, the African Development Bank Group (AFDB) approved a Loan of USD 29.5 million and a Clean Technology Fund (CTF) Concessional loan of USD 20 million for Quantum Power – Menengai Geothermal Project. The Quantum Power – Menengai Geothermal Project is a 35 MW Project which is part of the three 35MW plants awarded on Build – Own -Operate Concessions by the Government.