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Ken gen ppp seminar presentation

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  • 1. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL CONFIDENTIAL Structured Finance - PPP P Public-Private Partnership KenGen Proposed Models and Projects Document Eddy Njoroge, MD&CEO of KenGen Date 17 May 2012 - Nairobi, Kenya Disclaimer: This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinseyreport may be circulated, quoted, or reproduced for distribution without prior written No part of this & Company during an oralSource: Source presentation; it is not a complete record of theAll the information contained herein was prepared for information only. approval from KenGen. discussion. 1
  • 2. OUTLINE:Unit of measure 1 Background W 2 KenGen Proposed PPP Models 3 KenGen’s Proposed Phase I: PPP Projects P 4 Discussions * FootnoteSource: Source 2
  • 3. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 3
  • 4. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 4
  • 5. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 5
  • 6. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 6
  • 7. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 7
  • 8. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 8
  • 9. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 9
  • 10. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 10
  • 11. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 11
  • 12. Financing KenGen’s Olkaria I & IV 280MW Flagship Projects Unit of measure With Drilling Costs W P * Footnote Source:Source: KenGen; Source 12
  • 13. Financing KenGen’s Olkaria I & IV 280MW Flagship Projects Unit of measure Without Drilling Costs W P * Footnote Source:Source: KenGen; Source 13
  • 14. OUTLINE:Unit of measure 1 Background W 2 KenGen Proposed PPP Models 3 KenGen’s Proposed Phase I: PPP Projects P 4 Discussions * FootnoteSource: Source 14
  • 15. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 15
  • 16. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 16
  • 17. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 17
  • 18. Working DraftUnit of measure Last Modified 06/01/2008 08:33:51 Pacific SA Standard Time Printed 12/03/2007 15:47:35 South Africa Standard Time W CONFIDENTIAL P Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. * Footnote This material was used by McKinsey & Company during an oralSource: Source presentation; it is not a complete record of the discussion. 18
  • 19. OUTLINE:Unit of measure 1 Background W 2 KenGen Proposed PPP Models 3 KenGen’s Proposed Phase I: PPP Projects P 4 Discussions * FootnoteSource: Source 19
  • 20. 3 Phase I: PPP Project: Muhoroni 80MW Power Plant Unit of measure BOT – Build Operate Transfer PPA – Power Purchase Agreement Project Description W 1. Name: Muhoroni Thermal Power Plant 1. Capacity: 80MW 1. Estimated Cost: US$ 100 million 1. Economic Life: 20 years P 1. Mode: Thermal –Heavy Fuel Oil (HFO) 1. Expected PPP: BOT (Vendor Financing…) 1. Location: Western Kenya 1. Status: 1. Tender documents under preparation 2. PPA being prepared * Footnote Source:Source: KenGen; TMO Source 20
  • 21. 3 Phase I: PPP Project: Olkaria V 140MW Power Plant Unit of measure BOT – Build Operate Transfer PPA – Power Purchase Agreement Project Description W 1. Name: Olkaria V Power Plant 1. Capacity: 140MW 1. Estimated Cost: US$ 500 million (~US$ 200m for Power Plant only) 1. Economic Life: 25 years P 1. Mode: Geothermal 1. Expected PPP: Joint Venture through an SPV (Special Purpose Vehicle…) 1. Location: Naivasha, Kenya 1. Status: 1. Drilling and Steam Optimization Study - Completion 2012 2. PPA being prepared * Footnote Source:Source: KenGen; TMO Source 21
  • 22. 3 Phase I: PPP Project: Isiolo Wind Power Plant Unit of measure BOT – Build Operate Transfer PPA – Power Purchase Agreement Project Description W 1. Name: Isiolo Wind Power Plant 1. Capacity: 150 MW (Phase I: 50MW plus Phase II: 100MW) 1. Estimated Cost: US$ 400 million (Phase I: US$ 130 plus Phase II: US$ 270MW) 1. Economic Life: 20 years P 1. Mode: Wind 1. Expected PPP: Joint Venture through an SPV (Special Purpose Vehicle…) 1. Location: Isiolo, Northern Kenya 1. Status: 1. Feasibility Study Completed * Footnote Source:Source: KenGen; TMO Source 22
  • 23. 3 Phase I: PPP Project: Liquefied Natural Gas (LNG) Power Plant Unit of measure BOT – Build Operate Transfer PPA – Power Purchase Agreement Project Description W 1. Name: LNG Power Plant 1. Capacity: 495 MW 1. Estimated Cost: US$ 686 million 1. Economic Life: 20 years P 1. Mode: Natural Gas (imported) 1. Expected PPP: BOT 1. Location: Dongo Kundu, Mombasa Kenya 1. Status: 1. Feasibility Study Completed * Footnote Source:Source: KenGen; TMO Source 23
  • 24. 3 Phase I: PPP Project: Coal Power Plant Unit of measure BOT – Build Operate Transfer PPA – Power Purchase Agreement Project Description W 1. Name: Coal Power Plant 1. Capacity: 600 MW 1. Estimated Cost: US$ 1,665 million P 1. Economic Life: 20 years 1. Mode: Coal (imported) 1. Expected PPP: Joint Venture through an SPV (Special Purpose Vehicle…) 1. Location: Kilifi, Mombasa Kenya 1. Status: 1. Feasibility Study Completed * Footnote Source:Source: KenGen; TMO Source 24
  • 25. Unit of measure W Discussions P Kenya USA * FootnoteSource: Source 25