Kenya announces $5bn nuclear power plant plan
Kenya has unveiled plans to build a $5bn nuclear plant to boost its current poor and expensive power supply and attract investment.
The Kenyan government is carrying out a feasibility study for the construction of the country’s first nuclear power plant, which will cost $5bn and will be started no later than 2021. Set for completion by 2027, the project has been developed largely to address the east African country’s expensive and unreliable power supply, which is often cited as a deterrent to investment.
The facility will generate 1000 megawatts (MW) of electricity, a significant addition to the total 2299MW the country currently produces, most of which comes from hydroelectric dams and geothermal wells, according to the Energy Regulatory Commission. Kenya aims to increase production to 6766MW by 2020.
The government will begin looking for bidders on the project when it chooses a site, and will look at both private-public partnerships and government-to-government deals for funding and support, the National Electricity Board reported.
The fDi Report 2016
Most popular content
- fDi American Cities of the Future 2017/18 – New York triumphs again
- fDi’s Global Cities of the Future 2016/17 – the winners
- fDi American Cities of the Future 2017/18 – FDI Strategy winners
- The first resort: how FDI can help the Maldives to preserve its paradise
- Maldives pushes sustainability at home and abroad
Crossborder investment monitor
fDi Markets is the only online database tracking crossborder greenfield investment covering all sectors and countries worldwide. It provides real-time monitoring of investment projects, capital investment and job creation with powerful tools to track and profile companies investing overseas.
Corporate location benchmarking tool
fDi Benchmark is the only online tool to benchmark the competitiveness of countries and cities in over 50 sectors. Its comprehensive location data series covers the main cost and quality competitiveness indicators for over 300 locations around the world.
fDi Intelligence provides customised reports and data research which deliver vital business intelligence to corporations, investment promotion agencies, economic development organisations, consulting firms and research institutions.Find out more.