Who, except GoK, will apply for the Rights if they are priced above the 'market price'?
Happened in EABL many, many years ago but Diageo had underwritten it so it bought up all the untaken shares and ended up with a majority shareholding.

In a release today, Ormat Technologies, Inc. announced that it reached commercial operation of Plant 4 in the Olkaria III complex in Kenya, increasing the complex total generating capacity by 29 MW to 139 MW.

Plant 4 will sell its electricity to Kenya Power and Lighting Company Limited (KPLC) under a 20-year PPA. In October 2015, Ormat signed an amendment to the Power Purchase Agreement (“PPA”) with KPLC that enables the increase of the capacity of Plant 4 expansions to an aggregate of 100 MW, in phases.

“With the commissioning of plant 4, the 140 MW Olkaria III complex will provide clean and reliable electricity to over 250,000 households in Kenya, supporting the Government of Kenya’s 2030 vision to increase generation capacity,” noted Isaac Angel, Chief Executive Officer “We are proud to be part of Kenya’s efforts, and view this facility as a key component of our geographic expansion strategy. Now that we have the commercial terms in place, we will continue to evaluate the feasibility of future expansions of the Olkaria III complex as well as other prospects to support our growth in Kenya.”

Ormat has implemented a multi-phased development strategy in Olkaria III. The first phase of Plant 1 commenced operation in 2000 and the second phase in 2009. Plant 2 commenced commercial operation in 2013 and plant 3 in 2014. Ormat financed the first three plants of the complex with a $310 million debt facility provided by the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution. Plant 4 was financed by Ormat equity which is covered under insurance policy from MIGA (a member of the World Bank Group) to cover its exposure to certain political risks involved in operating in developing countries.

This benefits Ormat (producer/seller of electricity) and KPLC (as the reseller of electricity to consumers) not KenGen. Or does KenGen get a fee or royalty? Or does Ormat work under the aegis of KenGen?

Or Power leased the steam wells from GOK (Not Kengen). Kengen has however leased a well to Oserian. Oserian produce power for its own consumption.

[quote=Ericsson]Kenya’s KenGen awaits rights issue by second quarter;



Kenya’a electricity generator KenGen is awaiting approval from the country’s electricity board for its planned rights issue by June.

The company has recently said that it plans to spend about $1.57 billion in its expansion programme that will see nearly 500MW added to the country’s grid by 2017.

The power plant is betting on a higher energy consumption due to increased industrial activity in a country that relies heavily on renewable energy.

“We have prepared the draft information memorandum and we are waiting for that to be approved by the board. Our target is to submit it to CMA (Capital Markets Authority) before the end of this month. We are making good progress of course with our target of being able to conclude the rights issue before the end of this financial year,” said Albert Mugo, KenGen’s CEO.

According to the company, the country’s current power demand is still not at its peak hence the need for increased investment.

The country became the first in Africa to tap geothermal power and expects to produce at least 5000MW by 2030.

The firm has secured a loan from Japan International Cooperation Agency (JICA), to fund another power plant in Olkaria./quote]
@erics you are using Eric's language here. You mean kengen has not concluded the rights yet and @kengen are still pursuing the CMA'S approaval , but why pursue them at all. Now things are getting thicker here. What 1.57bn $ equitable to in Kenya shillings, 157bn kshs. And by the way why issue rights and I have rights.