Eddy Njoroge picked for UK Globeleq board

Money Markets

Mr Eddy Njoroge has been appointed to the Globeleq board of directors. PHOTO | FILE 

By GEOFFREY IRUNGU

Eddy Njoroge, former Kenya Electricity Generating Company (KenGen) chief executive, has been appointed a director of UK-owned independent power producer Globeleq.

Globeleq said Mr Njoroge was among the firm’s new appointees who include a chairman, chief executive and other directors.

Mr Njoroge, 57, retired from his position as KenGen CEO in 2013 having been appointed in March 2003. He is credited with leading the firm into the 2006 IPO that ushered in hundreds of thousands of retail investors to the Nairobi Securities Exchange (NSE).

Besides being chairman of the NSE and Telkom Kenya, Mr Njoroge is the chairman of Berkeley Energy that recently signed a deal to sell geothermal power to the Ethiopian government.

Berkeley is among the companies involved in the giant 1000-megawatt Corbetti Geothermal project in southern Ethiopia. He is also a shareholder of TransCentury, also investing in geothermal.

Globeleq is developing energy projects across sub-Saharan Africa, with eight major generating assets in Côte d’Ivoire, Cameroon, Kenya, South Africa and Tanzania with a capacity of 1,237 megawatts.

South African Reuel Khoza has been appointed chairman, having previously held chairmanships of Nedbank, GSK SA, Corobrik (Pty) Ltd, and Eskom Holdings Ltd.