Chinese company planning to drill geothermal wells in Kenya

Alexander Richter 1 Ara 2009

In a not very detailed news piece, it is talked about a Chinese drilling company likely to play part in the expected geothermal drilling in Kenya. To be taken with some reservations I still thought it might be worth posting.

Chinese company Great Wall Drilling is eyeing the geothermal growth in Kenya. “Kenya’s state-run Geothermal Development Company (GDC) recently committed $240 million per year to the expansion of the national geothermal power resource.

With its landscape cut across by the Great Rift Valley, which is in the process of splitting two parts of the tectonic African Plate, Kenya holds a geothermal output potential of 7000 megawatts (7 GW). Currently, only 167 MW of that has been tapped.

By 2030, the Kenyan government has set the goal of bringing 4000 MW of geothermal power online to serve one of Africa’s most promising developing nations.

Great Wall Drilling is furthering the recent trend of Chinese companies moving into African resource markets by lauching a massive exploration and production campaign. Great Wall Drilling has 47 wells in Kenya either planned or already dug.

Those pilot wells will serve to give Kenyan officials in the capital Nairobi and throughout the country more of an idea of how to maximize official funds and draw investment from global geothermal leaders like Ormat Technologies (NYSE:ORA).

Great Wall Drilling will be just one of many international companies Kenya needs to get 72 wells drilled per year to reach 4 GW by 2030.”

Source: Green Chip Stocks