Ruto Fiercely Defends Adani-KETRACO’s Ksh 95 Billion Deal
President William Ruto said on Thursday that Kenya will benefit greatly from the power transmission agreement between Adani Group Holdings and the Kenya Electricity Transmission Company (KETRACO).
Ruto stated that Kenya is aggressively leveraging Public-Private Partnerships (PPP) to unlock its geothermal potential, which he believes will drive economic development.
The Head of State was speaking during the groundbreaking ceremony for a 35MW power plant in Menengai, Nakuru County.
He stated that with the assistance of controversial Adani and other private investors, Kenya will achieve its goal of wiring a national electric power grid by 2030 without burdening its citizens.
“The Adani group are investing Ksh.95 billion of their money in the transmission line. We would have otherwise gone to borrow that money and burden the people of Kenya,” said Ruto.
President William Ruto on Adani & the KETRACO deal https://t.co/482kYBUW5Y pic.twitter.com/73X2Q2TQl7
— Julians Amboko (@AmbokoJH) October 24, 2024
President Ruto clarified that his government will only pay the investors via a willing charge that has already been negotiated.
He expressed confidence that the energy investment would generate jobs and boost industrialisation.
“This investment is not funded by the government this is an investment by the private sector. They will put Ksh.12 billion of their money in their project to generate energy and we will buy the energy from them,” he said.
Ruto’s defense of Adani comes after Energy and Petroleum Cabinet Secretary Opiyo Wandayi announced a Ksh.95.68 billion agreement between the Kenya Electricity Transmission Company Limited (KETRACO) and Adani Energy Solutions Limited.
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According to CS Wandayi, the agreement will see the Indian company develop, finance, build, and operate critical transmission lines and substations throughout Kenya in order to alleviate the country’s chronic power outages.
Orpower TwentyTwo will manage the 35MW power plant, which will transmit power to Nanyuki, Meru, Nyeri, and other counties.
Ruto noted that Kenya has so far tapped only 950MW of geothermal from a potential of nearly 10,000MW, leaving enormous opportunities still untouched.
Kenya is also expanding its geothermal operations in Olkaria, Eburru, and Baringo, where more than 75MW has already been proven and will soon be connected to the national grid.
Ruto Fiercely Defends Adani-KETRACO’s Ksh 95 Billion Deal
