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Sinopec acquires thermal power project in Kenya

Apr. 6, 2012 (China Knowledge) - Sinopec International Petroleum Co, or SIPC, an affiliate of Sinopec<600028><0386>, Asia's largest oil refiner, has secured a final contract worth US$140 million from Kenya Energy Generating Co to develop a 280-megawatt geothermal power project in Olkaria, Kenya.

SIPC said it will launch a piping system with a total length of more than 40 kilometers for the project.

The contract, with duration of 20 months, is financed by World Bank and Kreditanstalt Fur Wiederaufbau, or KFW, of Germany.

The entire Olkaria project would cost US$580 million and is expected to be completed at the middle of 2014, said a person familiar with the matter.

Eddy Njoroge, managing director, of Kenya Energy Generating, noted that the Olkaria project would deliver steam from the geothermal wells to several plants each with a capacity of 140 MW.

The company has sufficient steam to generate more than 380 MW of geothermal power in Olkaria, Njoroge added.

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