GE buys Sh40bn stake in Lamu coal plant - 9 months ago, 17 Maý 07:12
American energy firm GE Power has bought a Sh40 billion stake in the Centum-fronted 1,050MW Lamu coal-fired electricity generation plant.
GE Power’s Chief Commercial Manager Michael Keroulle’ yesterday said the deal will see the American conglomerate allocated 20 per cent shares of Amu Power.
The fresh capital injection will be used for acquisition of plant machinery, a boiler and steam turbine generator built using GEs latest clean coal technology as well as air quality control systems.
“The technology greatly reduces emission of Sulphur Oxides, Nitrogen Oxides and particulates (dusts) to levels comparable to gas fired power plants,” he said.
Mr Keroulle’ spoke after he represented GE in signing a deal with the project’s developer Gulf Energy.
The coal plant is to be set up in the next 42 months.
It is expected to create 2,000 direct jobs and employ another 14,000 indirectly within Lamu.
Amu Power Chief Executive Francis Njogu said GE’s entry through allocation of ...
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