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US energy company GE Power has spent 40 billion shillings to acquire a stake
in Kenya's 1,050MW Lamu coal-fired power plant.
Michael Keroulle, chief commercial manager at GE Power, said yesterday that the deal will give the U.
S.
conglomerate a 20 percent stake
in Amu Power.
The new capital injection will be used to acquire plant machinery and boiler and steam turbine generator sets
built using GE's latest clean coal technology and air quality control systems.
"This technology significantly reduces emissions of sulphur oxides, nitrogen oxides and particulates (dust) to levels comparable to gas-fired power plants," says
Michael Keroulle.
It is reported that the coal power plant will be completed
in the next 42 months.
It is expected to create 2,000 direct jobs and indirectly employ 14,000 jobs
within Lamu.
Amu Power CEO Francis Njogu said that by allocating new shares, it will enable Amu Power to retain its shareholder portfolio, specifically Centum Investment Company, Gulf Energy, China Huadian, Sichuan Third Power Construction Company and Sichuan Electric Power Design Consulting Company
.
The company, which has a contract with the Kenyan government project, expects it to supply
the national grid at 7.
81 cents/kWh over the next 20 years.
Kenya's largest coal power project has faced criticism and stiff opposition from many sectors of society since its inception, with environmentalists questioning its implementation, especially after
Amu Power was approved by the National Environment Management Agency (Nema).
Francis Njogu of Amu Power, said: "GE's addition will bring revolutionary technology to the development of this coal power plant, which will be far superior to the technology
used by GE in other coal-fired power plants around the world.
" ”
This article uses a real-time exchange rate of 1 Kenyan shilling = 0.
06349 RMB
US energy company GE Power has spent 40 billion shillings to acquire a stake
in Kenya's 1,050MW Lamu coal-fired power plant.
Michael Keroulle, chief commercial manager at GE Power, said yesterday that the deal will give the U.
S.
conglomerate a 20 percent stake
in Amu Power.
The new capital injection will be used to acquire plant machinery and boiler and steam turbine generator sets
built using GE's latest clean coal technology and air quality control systems.
"This technology significantly reduces emissions of sulphur oxides, nitrogen oxides and particulates (dust) to levels comparable to gas-fired power plants," says
Michael Keroulle.
It is reported that the coal power plant will be completed
in the next 42 months.
It is expected to create 2,000 direct jobs and indirectly employ 14,000 jobs
within Lamu.
Amu Power CEO Francis Njogu said that by allocating new shares, it will enable Amu Power to retain its shareholder portfolio, specifically Centum Investment Company, Gulf Energy, China Huadian, Sichuan Third Power Construction Company and Sichuan Electric Power Design Consulting Company
.
The company, which has a contract with the Kenyan government project, expects it to supply
the national grid at 7.
81 cents/kWh over the next 20 years.
Kenya's largest coal power project has faced criticism and stiff opposition from many sectors of society since its inception, with environmentalists questioning its implementation, especially after
Amu Power was approved by the National Environment Management Agency (Nema).
Francis Njogu of Amu Power, said: "GE's addition will bring revolutionary technology to the development of this coal power plant, which will be far superior to the technology
used by GE in other coal-fired power plants around the world.
" ”
This article uses a real-time exchange rate of 1 Kenyan shilling = 0.
06349 RMB
