Kenya on Course for $5 Billion Nuclear Plant to Power Industry
KENYA -
Kenya’s nuclear agency submitted impact studies for a $5 billion power plant, and said it’s on course to build and start operating the facility in about seven years.
The government plans to expand its nuclear-power capacity fourfold by 2035, the Nuclear Power and Energy Agency said in a report on the National Environment Management Authority’s website. The document is set for public scrutiny before the environmental watchdog can approve it, and pave the way for the project to continue.
President Uhuru Kenyatta wants to ramp up installed generation capacity from 2,712 megawatts as of April to boost manufacturing in East Africa’s largest economy. Kenya expects peak demand to top 22,000 megawatts by 2031, partly due to industrial expansion, a component in Kenyatta’s Big Four Agenda. The other three are improving farming, health care and housing.
The nuclear agency is assessing technologies “to identify the ideal reactor for the country,” it said in the report.
A site in Tana River County, near the Kenyan coast was preferred after studies across three regions, according to the report. The plant will be developed with a concessionaire under a build, operate and transfer model.
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TORONTO - The Canada Infrastructure Bank (CIB) and ITC Investment Holdings (ITC) have signed an agreement in principle to invest $1.7 billion in the Lake Erie Connector project.
Under the terms of the agreement, the CIB will invest up to $655 million or up to 40% of the project cost. ITC, a subsidiary of Fortis Inc., and private sector lenders will invest up to $1.05 billion, the balance of the project's capital cost.
The CIB and ITC Investment Holdings signed an agreement in principle to invest $1.7B in the Lake Erie Connector project.
The Lake Erie Connector is a proposed 117 kilometre underwater…
