Geothermal Isn't Expensive: The Reservoir Always Has the Final Say Somewhere beneath a volcanic ridge, a drill bit is turning through rock that has not moved in two million years. It costs money every second it turns. And nobody on the surface — not the engineer, not the financier, not the minister who announced the megawatts — knows yet whether that well will produce steam or silence. That single moment explains almost everything people get wrong about geothermal energy. Geothermal is routinely described as expensive, slow, capital-hungry and haunted by drilling risk. Investors are reminded that tens of millions can disappear underground before a single megawatt reaches a grid. All of that is true. But it is not the whole truth. The uncomfortable question the industry keeps avoiding is this: is geothermal expensive, or is the way we develop geothermal making it expensive? Those are two completely different problems. One is geology. The other is us. Why Geothermal Refuses to Be...
Kenya Secures Ksh 6 Billion IFC Loan to Accelerate Menengai Geothermal Project 🚀🌱
By: Robert Buluma
Kenya’s green energy future just received a significant boost! The International Finance Corporation (IFC) is planning a Ksh 6 billion (~$40 million) loan to accelerate construction at the Menengai Geothermal Project near Nakuru, a cornerstone in the country’s renewable energy ambitions.
This funding is earmarked for the construction phase of one of the 35MW Independent Power Producer (IPP) plants within the larger 105 MW Menengai geothermal complex. Once fully operational, the complex is expected to supply clean energy to nearly 500,000 households, a huge leap toward Kenya’s goal of 100% clean energy generation by 2030.
Why This Matters for Construction and Development
1. Project Acceleration
The IFC loan ensures that construction continues smoothly and rapidly, keeping Kenya on track to expand its baseload renewable energy capacity.
2. Energy Security
Unlike solar or wind, geothermal power is reliable 24/7, reducing dependence on fossil fuels and strengthening Kenya’s energy security.
3. Pivotal Phase for Clean Energy
This phase is critical for achieving Kenya’s bold energy targets. Menengai is more than a power project—it’s a blueprint for sustainable industrial and community development.
4. Strong Partnerships
The project showcases a successful public-private partnership, with GDC supplying steam, IPPs like Sossian Energy, Globeleq, and Orpower22 building the plants, and backing from international financiers including AfDB, TDB, Finnfund, and now IFC.
A big congratulations to all the teams driving this essential infrastructure forward!
💡 Discussion Point: How can geothermal projects like Menengai transform regional industrial development and create new economic opportunities in Kenya?
Sources: Business Daily , Construction Today
Comments
Post a Comment