Thermal capacity accounted for 53.3% of total power plant installations globally in 2022, according to GlobalData, with total recorded thermal capacity of 4,544GW.
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Thermal power plant. [Courtesy]
Thermal power plants continue to be lucrative to investors.
This is despite sustained campaigns to do away with costly power generators, in a move meant to reduce the cost of electricity and harm to the environment as well as transit the country to renewable energy.
The lucrative nature of the thermal power is seen in the latest bid by Danish energy giant AP Moller to buy Thika Power Plant, a heavy fuel oil-fired generator near Thika town.
The plant, which has a power purchase agreement (PPA) with Kenya Power running up to 2034, has a power generating capacity of 87 megawatts (MW).