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Toshiba signs pact with RentCo to lease geothermal systems

Thursday May 10 2018
rentco

From left to right, Toshiba's CEO Satoshi Tsunakawa, Toshiba's Business Development Executive Toyoaki Fujita, RentCo East Africa Ltd. CEO Robert Nyasimi and Sandra Lombard, RentCo's Executive assistant during the signing of a lease agreement on May 7, 2018. PHOTO | TOSHIBA

By Allan Olingo

Japanese technology giant Toshiba has partnered with regional asset leasing firm RentCo East Africa Limited to commission and install turbines and wellhead geothermal power generation systems.

In a lease agreement signed on Monday, Toshiba will back RentCo’s expansion of its new energy leasing business.

The Kenyan leasing firm will supply Geoportable, a wellhead geothermal power generation system that can generate up to 10 megawatts (MW).

“I am confident that this collaboration will support Africa’s plan to expand its renewable energy to drive the Kenya’s economic development,” said Toshiba’s Business Development Executive Toyoaki Fujita.

The development comes at a time when the continent is exploring untapped geothermal resources to increase its power capacity.

“This partnership demonstrates commitment by both parties for collaborations to facilitate efficient, structured, inclusive agreement that will ensure steady power projects are done to their fruitful completion hence increased power capacity in the country and East Africa.

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“As it is, leasing plays a critical role in addressing the challenges of procuring and owning asset. We are pleased to partner with Toshiba in provision of affordable power solution in Africa,” RentCo's Chief Executive Officer Robert Nyasimi said.

Currently RentCo has an ongoing 15-year project to supply geothermal wellheads to Kenya's power producer KenGen.

Toshiba has previously signed memoranda of understanding with geothermal power development companies in Ethiopia, Tanzania, Djibouti, Uganda and Malawi as part of its contribution to stable electricity supply and the realisation of a low-carbon society.

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