President Ruto defends Ksh 95 billion Adani contract
Speaking at the launch of a 35MW power plant in Menengai, Nakuru County, Ruto stated Kenya’s ability to use public-private partnership (PPP) to open up geothermal energy, he believed would fuel economic growth.
He stated that Kenya would be able to achieve its objective of connecting electricity to the country by 2030 without any financial strain due to Adani’s involvement and other private investors in the debate.
“Adani Group is investing Ksh 95 billion of its own money in the transit line. Otherwise, we would have gone to borrow that money and take the burden on Kenyans. Ruto said:
President Ruto has made it clear that his government will pay a price before negotiations.
He expressed confidence that investment in energy will create jobs and boost the industry.He said: This investment is not from the government, this investment is from the private sector, 12 billion of their money was put into their project to produce electricity and we buy electricity from them. Ruto’s defense of Adani came after Energy and Petroleum Minister Opiyo Wandayi announced the signing of a K95. 68 billion contract between the Kenya Electricity Transmission Company (KETRACO) and Adani Energy Solutions Limited.
CS Wandayi said the contract will lead to the development, financing, construction and commissioning of transmission lines and critical stations across the country by the Indian company to reduce Kenya’s economic woes. .
The 35MW plant is operated by Orpower TwentyTwo and supplies electricity to Nanyuki, Meru, Nyeri and other counties.
Ruto said that Kenya has so far only tapped 950MW of thermal potential out of a capacity of about 10,000MW, leaving many areas untapped.
The country is also expanding thermal projects in Olkaria, Eburru and Baringo, where more than 75 MW have been tested and will soon be added to the national grid.
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