Toshiba signs geothermal lease deal with regional firm to expand power generation
Japanese technology giant Toshiba has partnered with regional asset leasing firm RentCo East Africa Limited to commission and install turbines and wellhead geothermal power generation systems within the region.
Through lease agreement signed on Monday, Toshiba will collaborate in the expansion of RentCo’s new energy leasing business including the supply of Geoportable to provide energy lease solutions to governments, parastatals and other energy stakeholders in Kenya and Sub- Saharan Africa.
“I am confident that this collaboration will support Africa’s plan to expand its renewable energy to drive the country’s economic development,” said Toshiba’s Business Development Executive Toyoaki Fujita.
Geoportable, is a wellhead geothermal power generation system that can generate up to 10 megawatts (MW).
The development comes at a time when the continent is exploring its untapped geothermal resources to increase it’s power capacity.
“This partnership demonstrates commitment by both parties for collaborations to facilitate efficient, structured, inclusive agreement that will ensure steady power projects are done to their fruitful completion hence increased power capacity in the country and East Africa.
“As it is leasing plays a critical role in addressing the challenges of procuring and owning asset. We are pleased to partner with Toshiba in provision of affordable power solution in Africa,” RentCo’s Chief Executive Officer Robert Nyasimi said.
Currently RentCo has an ongoing 15 year project to supply Geothermal Wellheads to KenGen.
Toshiba has previously signed memoranda of understanding with geothermal power development companies in Ethiopia, Tanzania, Djibouti, Uganda and Malawi as part of its contribution to stable electricity supply and the realisation of a low-carbon society.