Kenya-based Geothermal Development Company (GDC) has submitted a tender for the development of a 400MW underground stream power project that will help supply around a quarter of the country's energy needs.
The Kenya-based company invited pre-qualification bids from investors for the project, the first phase of which will involve drilling 120 wells, which are expected to contribute about a quarter of the country's installed power capacity.
GDC expects the project, located within Kenya's Rift Valley, to have a full power capacity potential of 1,250MW.
"The long-term plan is to develop 1,000MW within this prospect. However, the current project aims to realise about 400MW by 2014, 600MW by 2016 and 1,000MW by 2018," the company said in a statement.
The GDC has raised pledges worth 40% of the amount it needs for a ten-year plan, according to Reuters.