Market Overview

Fuji Electric Awarded Geothermal Power Station Contract in Kenya

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Fuji Electric Co., Ltd. (TSE:6504) ("FE"), headquartered in Tokyo,
Japan, led by President Michihiro Kitazawa, is pleased to announce that
it has been awarded a contract for a complete geothermal power facility
for the Olkaria I Geothermal Power Station (Olkaria I) in the Republic
of Kenya from Marubeni Corporation, the main EPC contractor of the
project owned by Kenya Electricity Generating Company (KenGen). Marubeni
Corporation is headquartered in Chuo-ku, Tokyo and led by President and
CEO Fumiya Kokubu.

Olkaria I is located about 120 kilometers northwest of Kenya's capital
city of Nairobi. It began operations in 1981 and was the nation's first
geothermal power station. It currently runs five turbines with a
combined output of approx. 185 MW, making it one of the largest
geothermal power stations in Africa.

This undertaking will be Fuji Electric's first geothermal power plant
project in Africa. The contract calls for construction of a new 6th
power generation unit (Unit 6). Construction funds for the project will
be provided in the form of an Official Development Assistance (ODA) loan
from the Japan International Cooperation Agency (JICA) and financing
through the European Development Bank.

 
• Project name

:

Olkaria I Additional Unit 6 Geothermal Power

Development Project

• Location

:

Nakuru County, Republic of Kenya
• Output

:

70 MW (nominal)
• Expected Year of Commercial Operation

:

2021
 

Geothermal power is a form of renewable energy generated from steam and
hot water within the earth. Fuji Electric has been developing its
geothermal power business since 1960, installing facilities in the
United States, Indonesia, the Philippines, Iceland, Japan, and other
areas around the world. To date, Fuji Electric has received orders for
81 power generation facilities (steam turbines, generators, etc.) with a
combined installed capacity of 3,132 MW.

Under its long-term development blueprint, Kenya Vision 2030, the
government of Kenya has set a development target to expand its
geothermal power capacity to 5,000 megawatts by 2030. In East Africa,
countries like Ethiopia and Djibouti have plans to develop new
geothermal power stations as well. Fuji Electric wished to take this
opportunity to increase it's supply records of geothermal steam turbine
generators in Africa, in the hopes of contributing to both economic
development and environmental conservation in the region.

About Fuji Electric Corp. of America

Fuji Electric Corp. of America is a wholly owned subsidiary of Fuji
Electric Co., Ltd., and has been responsible for sales and distribution
of the company's products since 1970. Fuji Electric Co., Ltd. began
developing power electronics equipment in 1923, and is a global leader
in industrial products ranging from semiconductors, HMIs, contactors,
relays, and power generation equipment to AC drives and uninterruptible
power supply systems. View our complete product guide for Power
Generation Equipment
, visit our website https://www.americas.fujielectric.com/
or follow us on Twitter @FujiElectricFEA.

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