- The purchase will see Globeleq become the majority shareholder in Quantum Power.
- It is expected that this purchase will avail funds necessary to speed up the construction of the Menengai II geothermal plant.
British company Globeleq has become the majority owner of Quantum Power East Africa GT Menengai (QPEA); one of three Independent Power Producers (IPPs) developing the 105 MWe Menengai geothermal project.
QPEA has since 2013 received a release from the Kenyan government to supply 35 MWe from the Menengai II geothermal power plant; however, the project has not progressed much. The delay has been attributed to challenges in financing. The Menengai geothermal project, when completed, is expected to generate 105 MWe.The project is being developed simultaneously in various phases by three different independent power producers (IPPs), Orpower Twenty-Two (Menengai I), Sosian Energy (Menengai III)
Read also: African Union Awards $14.5m Grant for Geothermal Energy in Kenya.
Steam for the plants will be purchased from the state-owned Geothermal Development Company (GDC), which has already constructed geothermal wells at the project site in Nakuru County. The energy generated will be sold to Kenya Power (KPLC) under a Power Purchase Agreement (PPA).
Menengai III currently is in the most advanced stage of construction compared to the other two. Chinese company Kaishan Renewable Energy Development was selected by Sosian Energy to build its geothermal power plant. It is believed that with the influx of funds following the purchase by Globeleq, the pace of construction in the Menengai II geothermal plant will increase.