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35MW Geothermal Power Plant, Menengai, Kenya

Aqua Power worked together with Symbion Power LLC (Symbion) via a Joint Development Agreement (JDA) to develop a 35MW Geothermal Power Plant at Menengai Crater in Nakuru County, Kenya. Aqua Power and Symbion sold 100% of the Project to Kaishan Renewable Energy Development Co. Ltd (KRED) in December 2023.

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LOCATION

Nakuru, Kenya

CONSTRUCTION

24 months

COD

December 2025

TYPE

Geothermal IPP

SIZE

35MW

OFF TAKER

KPLC
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Project Development

Aqua Power and Symbion sold the Project to KRED as shovel ready having successfully completed all of the Project development work including a 25 year Power Purchase Agreement (PPA) with Kenya Power & Lighting Company Limited (KPLC); a Project Implementation & Steam Supply Agreement (PISSA) with the Geothermal Development Company (GDC); a Generation License from the Energy & Petroleum Regulatory Authority (EPRA); an approved Environmental & Social Impact Assessment (ESIA) from the National Environment Management Authority (NEMA); Grid Connection from the Kenya Electricity Transmission Company Limited (KETRACO); Steam Gathering System from GDC; Access roads and all local permits and licenses in place.

Project Structure & Investment

Aqua Power and Symbion worked together on the geothermal power Project via OrPower Twenty Two Limited (OTTL) being a Special Purpose Vehicle (SPV) registered in Kenya to undertake the Project. The total Project cost was budgeted at USD 100 million (including contingencies) with a 70:30 debt to equity split.

  • Steam gathering system: 25km+ of insulated 900mm steel pipes

  • 132KV transmission line: 12.6km to national grid at Solio

  • New 132KV substation at Menengai

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Technical Details & Strategic Impact

Infrastructure

Aqua Power is in the advanced stages of building a 1.5 Tons Per Hour (TPH) LNG Plant (50,000 Nm3/d Natural Gas) in Western Ghana to supply AGA with LNG for their CAT DGB Mining Trucks. The LNG Plant will take feedstock from Ghana National Petroleum Corporation's (GNGC's) piped gas distribution station. The LNG Plant will have flexible operations and is designed to operate between 50%-110% of the nameplate capacity based on LNG market demand.

Strategic Impact

In addition to the LNG Plant, Aqua Power's operations include LNG storage, LNG trucking in ISO tank containers, LNG Off-loading and LNG saturation and dispensing (refuelling) at the Iduapriem Gold Mine. As such, Aqua Power is providing a turn-key solution for the LNG supply chain from LNG Production, to LNG Storage, to LNG Transportation, to LNG Off-loading, to LNG Saturation and finally LNG Dispensing (Re-Fueling) into the CAT DGB Mining Trucks. Aqua Power is building, owning and operating all infrastructure related to the LNG supply chain in Ghana based on a five-year LNG fuel Supply Agreement with AGA.

Flagship Project Status

The Menengai Geothermal Power Project is a Flagship Project for Kenya providing renewable and dependable baseload power generation with strong contractual payment risk mitigation measures in place.

Risk Mitigation

Government Support

  • Letter of Support from Government of Kenya

World Bank Guarantee

  • Partial Risk Guarantee (PRG)

Future Expansion

Menengai 1 Stage II

  • 60MW additional capacity

Menengai 2

  • 300MW expansion project

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