The African Development Bank (AfDB) has lauded GDC's progress at the Menengai Geothermal Project.
The bank, in particular, is impressed by the milestones that GDC has registered towards power plant development.
"The progress at Menengai is satisfactory. We are happy that GDC is well on schedule and has ensured that the IPPs can now reach financial closures," said Dr. Calleb Wegorro, the East African Constituency Regional Executive Director for the African Development Bank.
Dr. Wegorro said this on Monday while on a tour of the Menengai Geothermal Project in Nakuru County. GDC is developing geothermal steam at the site for generation of electricity.
The GDC Managing Director & CEO Eng. Johnson P. Ole Nchoe hands a gift pack containing the Company's Annual Report to Dr. Calleb Wegorrow, the AfDB's Executive Director for Eastern Africa at Polo Centre, Nakuru.
Recently GDC acquired a land deed for Menengai from the Kenya Forest Service (KFS). The land lease now paves way for IPPs to move towards financial closures with their different financiers.
The GDC Managing Director and CEO, Eng. Johnson P. Ole Nchoe reiterated the company's commitment towards cheap energy.
"We will be offering the cheapest tariff in the country from Menengai at 7 US cents kWh," said Eng. Nchoe .
Dr. Wegorro further lauded GDC's capacity building effort that has boosted the technical know-how for geothermal operations.
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