Kenya Considering to Open Land for Private Sector Geothermal Development
Local news report that Kenya is considering a review of various geothermal energy policies to help promote private investment into development in the country. Under the new regulations, Kenya Principal Secretary for Energy and Petroleum, Joseph Njoroge, said the private sector will be given land concessions to explore for geothermal steam. Kenya has only exploited less than five percent of its geothermal resources partly due to “a deficit in financing of geothermal projects.” The government plans to cooperate with the private sector to ensure more electricity generation from geothermal energy, the official said. (Source: Coastweek)
Kenya Floats US$297million T-Bond for Infrastructure Projects
Kenya is this month seeking to raise US$297 million from the domestic market for infrastructure projects in the energy, water and transport sectors. The East African nation is carrying out a number of infrastructure projects that include construction of power plants and bypasses funded by both donors and the government. The money is to be raised through the sale of a 15-year Treasury bond at an interest rate of 12 percent, which is lower than the yield of the bonds offered last month, which stood at 15 percent. The rates have been falling due to high bidding on all government securities offers from Treasury, particularly by commercial banks which have shifted to the stocks to make up for rate capping. (Source: Global Times)
