An artist impression of the Two Rivers Development on Limuru Road, Nairobi. PHOTO | FILE
By NEVILLE OTUKI, notuki@ke.nationmedia.com
In Summary
Centum Investment is constructing solar and diesel
power plants that will generate 12 megawatts (MW) of electricity to
power its Two Rivers Development, a real estate project that is designed
to host the largest shopping mall in the region.
The Nairobi Securities Exchange-listed firm has secured a
licence from the energy regulator to generate and supply electricity at
the mixed-use commercial development that comprises a mega shopping
mall, hotel, office blocks and apartments.
Centum chief executive James Mworia said in an
interview that the complex will produce two megawatts of solar energy
and generate 10MW of diesel power in addition to tapping electricity
supply from the national grid.
“We have three sources of power. The blended cost should meet at Kenya Power’s rates for consumers,” said Mr Mworia.
The Garden City Mall on Nairobi’s Thika Road
launched a similar solar carport last September that was to generate own
electricity for the shopping complex.
Electricity from diesel generators, the most
expensive source in Kenya, costs about Sh18 per unit (kilowatt hour)
while the feed-in-tariff for solar energy connected to the grid is Sh12.
Centum’s power generating project was among the
nine that received licences from the Energy Regulatory Commission (ERC)
last year.
Other power generation projects in the pipeline
include Orpower22’s 35 MW geothermal plant in Nakuru’s Menengai basin,
Sosian Energy (35 MW) and Quantum Power East Africa (35 MW) all in the
same area. Their construction will start this year.
Indian cement manufacturer Cemtech also got a licence to build a 30 MW coal power plant in West Pokot.
Two Rivers sits on a 102-acre piece of land along Limuru Road in Nairobi.
The first phase of the project includes a mega
shopping mall whose space has been booked by global firms making their
first entry into Kenya.
French retailer Carrefour is set to be the mall’s
anchor tenant, alongside other brands like LC Wakiki – a Turkish luxury
clothing line – and Virgin Active, a platinum health club founded by
billionaire Richard Branson.
The mall, billed as the largest in East and Central
Africa, covers an area of 1.2 million square feet (excluding parking
space for 3,000 vehicles) and will have 220 shops.
Two Rivers is expected to generate $25 million (Sh2.5 billion) in annual rental income.
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