Journey & Milestones
Conceptualized the project and made a decision to try develop the Homa Hills Geothemal prospect
Preliminary Geothermal Report
Preliminary studies undertaken in the area reveal the existence of a geothermal reservoir expected to be at temperatures of between 160oC – 235oC and covering an area of over 12 km2.
Application for Geothermal Resource Licence
An application for a Geothermal Reaources Licence was made according to the Geothermal Resources Act of 1982. The 2019 Energy bill has since been established.
County Government Project Approval
Capital Power obtained an approval letter from the County Government in the year 2014.
To obtain a social licence the company also established a Stakeholder Engagement Plan (SEP) according to the World bank and IFC Standards. The team is made up of 32 persons and comprises different sub committees to deal with issues related to : Environent, Social Economic, Feedback and Grievances.
Approtech Geothermal Technical Review
An independent review of the available data identified gaps and recommended the need for Detailed Scientific Studies.
Geothermal Licence granted by the government of Kenya.
The Geothermal Resources Licence No. 5/2017 granted to Capital Power allows the company to provide the much needed risk capital to derisk and develop the Homa Hills Geothermal prospect covering approximately 154 square kilometers.
Signing of Geothermal Grant Contract with the Africa Union Commision being USD $ 720,000 Dollars for Surface Studies
The Geothermal Risk Mitigation Facility (GRMF) was established to fund, facilitate, and accelerate geothermal development in Eastern Africa. The overall objective of the GRMF is to encourage public and private sector investment into geothermal power generation. The GRMF therefore acts as a catalyst in establishing geothermal energy as a strategic option for power generation capacity expansion in eleven partner countries in the Eastern African Rift region.
Capital Power was admitted to the accelerator program as a IBUKA hostee at the Nairobi Securities Exchange
IBUKA program is designed for aspirational companies that are driven by changes that enhance their growth. The Nairobi Securities Exchange through this platform provides a step by step guideline through trainings and other interactive sessions to assist companies set up the right corporate, governance and compliance structures.This enables a company to be visible and ready to access Capital Markets, Improve Fund raising Capabilities as well as structure bonds and other financial instruments available in the market.